This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Acquisition Of Parametric Sound Corporation May Not Be In The Best Interests Of Parametric Shareholders

SAN DIEGO and POWAY, Calif., Aug. 9, 2013 /PRNewswire/ --  Shareholder rights attorneys at Robbins Arroyo LLP are investigating the proposed merger between Parametric Sound Corporation (NASDAQ: PAMT) ("Parametric Sound") and VTB Holdings, Inc. ("Turtle Beach"). On August 5, 2013, the two companies announced a definitive agreement to merge in a stock for stock transaction.  The transaction is expected to close before the end of the calendar year.    


Is the Merger Best for Parametric Sound Shareholders?

Robbins Arroyo's investigation focuses on whether the board of directors at Parametric Sound is undertaking a fair process to obtain maximum value and adequately compensate its shareholders in the merger.  According to the terms of the agreement, Parametric Sound shareholders will receive 20% of the common stock of the combined company and Turtle Beach shareholders will receive 80% of the outstanding shares.  Further, a condition of the deal requires Parametric Sound to raise at least $5 million in additional debt or equity prior to the closing of the transaction. In addition, $12 million of non-convertible preferred stock of Turtle Beach will remain outstanding, plus dividends accrued. On news of the merger, Parametric Sound's stock declined nearly 21%, or $3.69 per share, to close at $14.00 per share. 

Given these facts, Robbins Arroyo is examining whether Parametric Sound's board of directors breached their fiduciary duties to shareholders in agreeing to be acquired by Turtle Beach.  

Parametric Sound shareholders have the option to file a class action lawsuit to secure the best possible price for shareholders and the disclosure of material information to shareholders.  Parametric Sound shareholders interested in information about their rights and potential remedies can contact attorney Darnell R. Donahue at (800) 350-6003,, or via the shareholder information form on the firm's website.

Robbins Arroyo LLP is a nationally recognized leader in securities litigation and shareholder rights law.  The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.  For more information, please go to

Press release link:

Attorney Advertising. Past results do not guarantee a similar outcome.  

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.24 -0.41%
FB $117.81 -0.21%
GOOG $701.43 0.82%
TSLA $211.53 -4.96%
YHOO $36.94 2.61%


Chart of I:DJI
DOW 17,660.71 +9.45 0.05%
S&P 500 2,050.63 -0.49 -0.02%
NASDAQ 4,717.0940 -8.5450 -0.18%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs