Winner Medical Group, Inc. Going Private Proposal Investigated By The Securities Attorneys At The Briscoe Law Firm And Powers Taylor, LLP
Former United States Securities and Exchange Commission attorney
Briscoe and the securities litigation firm of
Taylor, LLP are investigating potential legal claims against the
Board of Directors of...
Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP are investigating potential legal claims against the Board of Directors of Winner Medical Group, Inc. (“Winner” or “WWIN”) (Nasdaq: WWIN) related to a going private proposal from its Chairman. Under the terms of the proposal, Winner’s Chairman and Chief Executive Officer, Mr. Jianquan Li, would acquire all outstanding shares of Winner’s common stock for $4.30 per share, well below the $5.23 the shares were worth on April 28, 2011. Li currently owns approximately 74% of the Company’s stock. If you are an affected investor, and you want to learn more about the lawsuit or join the action, contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at firstname.lastname@example.org, or Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 706-9314, or via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you. According to shareholder rights attorney Willie Briscoe, “The investigation relates to the fairness of the proposed transaction to Winner’s shareholders and whether the Board of Directors is adequately shopping the company in order to obtain the best possible price for the shareholders. For example, according to an analyst on Yahoo! Finance, the target price for Winner’s shares is $5.50, well above the $4.30 currently offered by Mr. Li. In addition, the firms are actively investigating possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Winner in connection with the potential approval of this transaction, and whether Winner’s Board of Directors is acting in the shareholders’ best interests.” The Briscoe Law Firm, PLLC is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters. Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.
Shares of Winner Medical Group (Nasdaq:WWIN) have taken a tremendous swing upward. The stock is trading at $4.10 as of 9:39 a.m. ET, 20.6% above Friday's closing price of $3.40. Volume is at 23,231, 1.8 times the daily average of 13,100.