Pomerantz Law Firm Investigates Claims on Behalf of Investors of X-Rite, Incorporated
11 April 2012 - 5:09AM
Business Wire
Pomerantz Haudek Grossman & Gross LLP is investigating
claims on behalf of investors of X-Rite, Incorporated (“X-Rite” or
the “Company”) (NASDAQ: XRIT) (ISIN: US9838571035) concerning the
proposed acquisition of X-Rite by Danaher in a cash tender offer
valued at approximately $625 million.
The investigation concerns whether the X-Rite directors are
breaching their fiduciary duties by failing to adequately shop the
Company and maximize shareholder value. Under the terms of the
agreement, X-Rite shareholders would receive $5.55 in cash per
share of X-Rite common stock. However, the price to EBITDA, total
assets and book values multiples are below that of comparable
transactions. Additionally, X-Rite’s existing management team will
continue to hold key senior positions at the Company following the
close of the transaction.
X-Rite shareholders seeking more information about this
acquisition are advised to contact Rebecca Jarmon at
rjarmon@pomlaw.com or 212-661-1100 or 888-476-6529, ext. 314.
The Pomerantz Firm, with offices in New York, Chicago, and
Washington, D.C., is acknowledged as one of the premier firms in
the areas of corporate, securities, and antitrust class litigation.
Founded by the late Abraham L. Pomerantz, known as the dean of the
class action bar, the Pomerantz Firm pioneered the field of
securities class actions. Today, more than 70 years later, the
Pomerantz Firm continues in the tradition he established, fighting
for the rights of the victims of securities fraud, breaches of
fiduciary duty, and corporate misconduct. The Firm has recovered
numerous multimillion-dollar damages awards on behalf of class
members. See www.pomerantzlaw.com.
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