Robbins Umeda LLP Is Investigating American Medical Systems Acquisition for Shareholders
Robbins Umeda LLP, a shareholder rights litigation firm, is interested in helping shareholders of American Medical Systems (NASDAQ: AMMD). The Firm has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by members of the board of directors of American Medical in connection with their efforts to be acquired by Endo Pharmaceuticals (NASDAQ: ENDP).
On April 11, 2011, Endo Pharmaceuticals and American Medical announced they have entered into a definitive agreement under which Endo Pharmaceuticals will acquire American Medical in an all-cash transaction. Under the current agreement, American Medical shareholders will receive $30 in cash for each share of American Medical common stock they hold. The transaction is expected to close late in the third quarter of 2011.
The investigation is focused on whether American Medical’s board is undertaking a fair process to obtain maximum value for its shareholders. Of particular interest, on February 15, 2011, American Medical beat expected fourth quarter 2010 earnings per share results by $0.05 per share, representing a 14.3% growth compared with the same quarter last year. In addition, American Medical reported better than expected revenue for the fourth quarter of 2010.
If you own stock in American Medical and would like more information about your shareholder rights, please complete the form below and we will contact you directly. We also welcome you to call us at 800-350-6003.