Monteverde & Associates PC Files Class Action Lawsuit On Behalf Of Shareholders Of Analogic Corporation In The District Of Massachusetts
Monteverde & Associates PC Files Class Action Lawsuit On Behalf Of Shareholders Of Analogic Corporation In The District Of Massachusetts |
| [22-June-2018] |
NEW YORK, June 22, 2018 /PRNewswire/ -- Notice is hereby given that Monteverde & Associates PC has filed a class action lawsuit in the United States District Court for The District of Massachusetts, Case No. 1:18-cv-11301, on behalf of shareholders of Analogic Corporation, ("Analogic" or the "Company") (NasdaqGS: ALOG) who held Analogic securities and have been harmed by Analogic and its board of directors' (the "Board") for alleged violations of Sections 14(a) and 20(a) of the Securities Exchange Act of 1934 (the "Exchange Act") in connection with the sale of the Company to affiliates of Altaris Capital Partners, LLC ("Altaris").
Under the terms of agreement, each share of Analogic common stock will be converted into the right to receive $84 in cash per share (the "Merger Consideration"). This represents a 12.5% discount to the $96.05 closing price of Analogic shares right before the Proposed Transaction was announced. In pursuing the unfair plan to facilitate the acquisition of Analogic by Altaris for grossly inadequate consideration, the Proxy Statement exposes some details of the highly flawed sales process, but the Proxy Statement fails to disclose a myriad of material facts concerning the Proposed Transaction, preventing shareholders from casting an informed vote for or against the Proposed Transaction. The Proxy Statement omits and/or misrepresents material information concerning, among other things: (a) the sales process for the Company; and (b) certain financial forecasts prepared by Analogic and relied upon by Citi. For these reasons, the Plaintiff asserts claims against Defendants for violations of Sections 14(a) and 20(a) of the Exchange Act, and Rule 14a-9. Plaintiff seeks to recover damages resulting from the Defendants' violations of the Exchange Act. If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. If you wish to discuss this action, or have any questions concerning this notice or your rights or interests, please contact Monteverde & Associates PC: Click here for more information: https://monteverdelaw.com/case/analogic-corporation. Monteverde & Associates PC is a national class action securities and consumer litigation law firm committed that has recovered millions of dollars and is committed to protecting shareholders and consumers from corporate wrongdoing. Monteverde & Associates PC lawyers have significant experience litigating Mergers & Acquisitions and Securities Class Actions, whereby they protect investors by recovering money and remedying corporate misconduct. Mr. Monteverde, who leads the legal team at the firm, has been recognized by Super Lawyers as a Rising Star in Securities Litigation in 2013 and 2017, an award given to less than 2.5% of attorneys in a particular field. He has also been selected by Martindale-Hubbell as a 2017 Top Rated Lawyer. Contact: Attorney Advertising. (C) 2018 Monteverde & Associates PC. Prior results do not guarantee a similar outcome with respect to any future matter.
SOURCE Monteverde & Associates PC | ||
Company Codes: NASDAQ-NMS:ALOG |
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