Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of Solta Medical, Inc. (“Solta” or the “Company”) (NASDAQ GS: SLTM) regarding possible breaches of fiduciary duties and other violations of law related to the Company’s entry into an agreement to be acquired by Valeant Pharmaceuticals International, Inc. (“Valeant”) (NYSE: VRX), in a transaction valued at approximately $250 million.
Under the terms of the agreement, public shareholders of Solta will receive $2.92 per share in cash for each share of Solta they own.
The investigation concerns whether Solta’s board of directors failed to adequately shop the Company and obtain the best possible value for Solta’s shareholders before entering into an agreement with Valeant. According to Yahoo! Finance, at least one analyst has issued a price target for Solta stock at $4.00 per share.
If you own the common stock of Solta and purchased your shares before December 16, 2013, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth D. Rigrodsky or Gina M. Serra at Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, New York 11530, by telephone at (888) 969-4242.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, on behalf of shareholders in states and federal courts throughout the United States.
Attorney advertising. Prior results do not guarantee a similar outcome.
This is normal, the same law firms always put out these press releases on news of buyout. Look at LSI today, same lawfirms there. Rarely does this mean anything. Just wish I had bought this stock last week.