MURRAY FRANK LLP is investigating claims of breach of fiduciary duties by certain members of the board of directors of Synovis Life Technologies, Inc. (NASDAQ: SYNO) (“Synovis” or the “Company”) in relation to the acquisition of the Company by Baxter International Inc. (“Baxter”). On December 13, 2011, Synovis and Baxter announced that they had entered into a definitive agreement pursuant to which Synovis will be acquired by Baxter, in an all-cash transaction under which Synovis stockholders will receive $28.00 in exchange for each share of Synovis common stock owned, a total value of approximately $325 million. The investigation focuses on whether certain members of the board of directors breached their fiduciary duties in connection with their efforts to sell Synovis to Baxter at an inadequate price through an unfair process which significantly undervalues the Company. If you are a current investor in Synovis, who purchased SYNO shares before December 13, 2011, and you wish to discuss this investigation or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Bridget V. Hamill at (800) 497-8076 or (212) 682-1818, or by email at firstname.lastname@example.org.
Synovis Life Technologies (Nasdaq:SYNO) hit a new 52-week high Tuesday as it is currently trading at $28.01, above its previous 52-week high of $28 with 31,366 shares traded as of 1:32 p.m. ET. Average volume has been 165,800 shares over the past 30 days.
Synovis Life Technologies (Nasdaq:SYNO) hit a new 52-week high Tuesday as it is currently trading at $27.98, above its previous 52-week high of $27.97 with 52,394 shares traded as of 3 p.m. ET. Average volume has been 165,800 shares over the past 30 days.
Shares of Synovis Life Technologies (Nasdaq:SYNO) were gapping up Tuesday morning with an open price 50.5% higher than Monday's closing price. The stock closed at $18.44 yesterday and opened today's trading at $27.75.