Law Firm Kirby McInerney LLP Investigating Potential Claims On Palomar Medical Technologies, Inc. Shareholders
Kirby McInerney LLP is investigating potential claims against the Board of Directors of Palomar Medical Technologies, Inc. (“Palomar” or the “Company”) (NASDAQ: PMTI) related to the proposed acquisition of the Company by Cynosure, Inc. (NASDAQ: CYNO) (“Cynosure”). Under the terms of the agreement, Cynosure will acquire PMTI in a cash and stock transaction pursuant to which shareholders will receive $6.825 per share in cash and $6.825 per share in Cynosure common stock, valuing the transaction at approximately $294 million.
The investigation concerns whether the Palomar Board of Directors violated its fiduciary duties by agreeing to this transaction and whether the proposed per-share consideration adequately values Palomar shares. The combined acquisition price of $13.65 represents a premium of only 23% above the average closing price of Palomar shares since February 7, 2013, when the Company announced its 2012 year-end results.
If you are a Palomar shareholder and wish to obtain additional information, please contact J. Brandon Walker, Esq. by email at firstname.lastname@example.org, by telephone at (212) 699-1145 or (888) 529-4787, or by filling out this contact form.
Kirby McInerney LLP is a New York-based law firm concentrating in securities, shareholder, whistleblower, antitrust and consumer litigation. For additional information, please go to www.kmllp.com
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