Pomerantz Haudek Grossman & Gross LLP is investigating claims on behalf of investors of Kensey Nash (“Kensey Nash” or the “Company”) (NASDAQ: KNSY) (ISIN: US4900571062) concerning the proposed acquisition of Kensey Nash by Royal DSM in a cash transaction valued at approximately $360 million. The investigation concerns whether the Kensey Nash directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the agreement, Kensey Nash shareholders would receive $38.50 in cash per share of Kensey Nash common stock. However, the price to EBITDA, total assets, revenue and free cash flow multiples are below that of comparable transactions. Kensey Nash shareholders seeking more information about this acquisition are advised to contact Rebecca Jarmon at email@example.com or 212-661-1100 or 888-476-6529, ext. 314. The Pomerantz Firm, with offices in New York and Chicago, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 75 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of defrauded investors. See www.pomerantzlaw.com.
Kensey Nash Corporation (Nasdaq:KNSY) hit a new 52-week high Monday as it is currently trading at $38.50, above its previous 52-week high of $38.49 with 28,430 shares traded as of 10:13 a.m. ET. Average volume has been 96,800 shares over the past 30 days.
Shares of Kensey Nash Corporation (Nasdaq:KNSY) were gapping up Thursday morning with an open price 32.3% higher than Wednesday's closing price. The stock closed at $29.01 yesterday and opened today's trading at $38.37.