Rigrodsky & Long, P.A. announces that it is investigating potential claims against the board of directors of inVentiv Health, Inc. (“inVentiv” or the “Company”) (Nasdaq: VTIV) concerning possible breaches of fiduciary duty and other violations of law related to the Company’s entry into an agreement to be acquired and taken private by Thomas H. Lee Partners, L.P. (“THL”) in a transaction valued at approximately $1.1 billion. ( http://www.rigrodskylong.com/news/VTIV).
Under the proposed agreement, inVentiv shareholders will receive $26.00 in cash for each share of inVentiv common stock they hold. The investigation concerns whether inVentiv’s board of directors failed to adequately shop the Company and obtain the best price possible for inVentiv’s shareholders before entering into the agreement with THL.
As recent as May 6, 2010, the Company reported its first quarter of 2010 financial results wherein HealthTronics announced a return to year-over-year growth with a 5% increase in first quarter revenues over the first quarter of 2009 and a 38% increase in its first quarter adjusted EPS over the prior year. Indeed, Blane Walter, inVentiv’s CEO, commented, “I am pleased with inVentiv’s strong operating and financial results for the first quarter.” Furthermore, at least one analyst has set a $27.00 per share price target for inVentiv.
If you own the common stock of InVentiv and purchased your shares before May 6, 2010, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth D. Rigrodsky, Esquire or Noah R. Wortman, Case Development Director, of Rigrodsky & Long, P.A., 919 N. Market Street, Suite 980, Wilmington, Delaware, by telephone at (888) 969-4242, or by e-mail to firstname.lastname@example.org.Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.