Levi & Korsinsky, LLP Investigates Possible Breach Of Fiduciary Duty By The Board Of Global Medical Technologies Inc. - GLOB
Levi & Korsinsky is investigating the Board of Directors of Global Medical Technologies Inc. (“Global Medical” or the “Company”) (OTCBB: GLOB) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to Haemonetics Corporation ("Haemonetics ") (NYSE: HAE). Under the terms of the transaction, Haemonetics will commence a tender offer to purchase all outstanding shares of Global Medical common stock at $1.22 per share and preferred stock at approximately $1,694 per share. The total transaction value is approximately $60 million.
The investigation concerns whether the Global Medical of Directors breached their fiduciary duties to Global Medical stockholders by failing to adequately shop the Company before entering into this transaction and whether Haemonetics is underpaying for Global Medical shares, thus unlawfully harming Global Medical stockholders. Global Medical stock traded as high as $1.14 per share as recently as September 21, 2009.
If you are a current holder of Global Medical and would like additional information, please contact us at the number listed below or visit http://www.zlk.com/glob1.html.
Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation.
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