Law Office of Brodsky & Smith, LLC Announces Investigation of Palomar Medical Technologies, Inc.
12 April 2013 - 5:45AM
Business Wire
Law office of Brodsky & Smith, LLC announces that it is
investigating potential claims against the Board of Directors of
Palomar Medical Technologies, Inc. (“Palomar Medical” or the
“Company”) (Nasdaq: PMTI) relating to the proposed acquisition by
Cynosure, Inc.
Under the terms of the transaction, Palomar Medical shareholders
will receive only $6.8525 in cash and $6.825 in Cynosure common
stock (subject to adjustment), for each share of Palomar Medical
stock they own. The investigation concerns possible breaches of
fiduciary duty and other violations of state law by the Board of
Directors of Palomar Medical for not acting in the Company’s
shareholders' best interests in connection with the sale process.
The transaction may undervalue the Company and will result in loss
for many long term Palomar Medical shareholders. For example
Palomar Medical stock traded at $14.18 as recently as May 31, 2011
and $16.01 on April 29, 2011. In addition, the price being offered
is below an analyst price target of $14.50 per share for Palomar
Medical stock.
If you own shares of Palomar Medical stock and wish to discuss
the legal ramifications of the proposed transaction, or have any
questions, you may e-mail or call the law office of Brodsky &
Smith, LLC who will, without obligation or cost to you, attempt to
answer your questions. You may contact Jason L. Brodsky, Esquire or
Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza,
Suite 602, Bala Cynwyd, PA 19004, by e-mail at
investorrelations@brodsky-smith.com visiting
http://brodsky-smith.com/556-pmti-palomar-mecical-technologies-inc.html,
by calling toll free 877-LEGAL-90.
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