The law firm of Wohl & Fruchter LLP is investigating the proposed merger of Parametric Sound Corporation (Parametric) (NASDAQ: PAMT) and VTB Holdings, Inc. (Turtle Beach).
On August 5, 2013, Parametric and Turtle Beach announced they had entered into an agreement to merge in a stock for stock transaction. Under the terms of the agreement, former Turtle Beach stockholders are expected to own approximately 80 percent of the combined company’s shares, and Parametric stockholders are expected to own approximately 20 percent of the combined company’s shares.
Wohl & Fruchter’s investigation concerns the fairness of the transaction from the standpoint of Parametric shareholders, and whether the board of directors of Parametric breached their fiduciary duties to Parametric shareholders in approving the transaction.
Additional information, including copies of the proxy and other materials filed by Parametric with the Securities & Exchange Commission, is available at http://www.wohlfruchter.com/cases/pamt.Persons with relevant information, and Parametric shareholders with questions about this investigation, are invited to contact our Firm by calling 866.833.6245, or contacting the attorney below. About Wohl & Fruchter Wohl & Fruchter LLP represents plaintiffs in litigation arising from fraud and other fiduciary breaches by corporate managers, as well as other complex litigation matters. Please visit our website, www.wohlfruchter.com, to learn more about our Firm, or contact one of our partners. This release may be deemed to constitute attorney advertising.