The securities litigation firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of Palomar Medical Technologies, Inc. (“Palomar” or the “Company”) (Nasdaq: PMTI) and other violations of state law by the board of directors of Palomar relating to the proposed buyout of the Company by Cynosure, Inc. (“Cynosure”). The firm’s investigation seeks to determine, among other things, whether Palomar’s board of directors breached their fiduciary duties by failing to maximize shareholder value.
As stated in the press release announcing the proposed buyout, Palomar shareholders will receive $13.65 for each share of Palomar they own, which includes $6.825 per share in cash and $6.825 per share in Cynosure common stock. However, according to Yahoo! Finance, the high analyst price target is $14.50 per Palomar share.
If you currently own common stock of Palomar and would like to learn more about the investigation being conducted by Brower Piven, you may email or call Brower Piven, who will, without obligation or cost to you, attempt to answer your questions. You may contact Brower Piven by email at
, by calling (410) 415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and other class action cases of over 60 years.