Levi & Korsinsky, LLP Launches An Investigation Into The Possible Breaches Of Fiduciary Duty By The Board Of Otix Global, Inc. In Connection With The Sale Of The Company To William Demant Holding - OTIX
Levi & Korsinsky is investigating the Board of Directors of Otix Global, Inc. (“Otix” or the “Company”) (NasdaqGM: OTIX) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to William Demant Holding ("WDH"). Under the terms of the transaction, Otix shareholders will receive $8.60 in cash for each share of Otix common stock they own for a total transaction value of approximately $50 million.
The investigation concerns whether the Otix Board of Directors breached their fiduciary duties to Otix stockholders by failing to adequately shop the Company before entering into this transaction and whether WDH is underpaying for Otix shares, thus unlawfully harming Otix stockholders. In particular, at least one analyst has set a price target for Otix stock at $15.00 per share.
If you own common stock in Otix and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500 or visit http://www.zlk.com/otix.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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