NEW YORK, Aug. 12, 2013 /PRNewswire/ -- Pomerantz Grossman Hufford Dahlstrom & Gross LLP is investigating claims on behalf of investors of Parametric Sound Corporation ("Parametric Sound" or the "Company") (PAMT) (ISIN:US6991722017) (CUSIP:699172201) concerning the proposed acquisition of Parametric Sound by Turtle Beach, Inc. in a stock for stock transaction.
The investigation concerns whether the Parametric Sound directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the agreement, Parametric Sound shareholders will receive approximately 20% of the common stock of the combined company and Turtle Beach shareholders will receive approximately 80% of the outstanding shares. However, a condition of the proposed acquisition requires Parametric Sound to raise at least $5 million through the incurrence of debt or the issuance of equity prior to the closing of the transaction. In addition, Parametric Sound's CEO will stay on with the post-merger company.
Parametric Sound shareholders seeking more information about this acquisition are advised to contact Robert Willoughby at firstname.lastname@example.org or 212-661-1100 or 888-476-6529, ext. 237.
The firm is also investigating actions on behalf of shareholders for the following companies: Hilltop Community Bancorp, Inc., Dole Food Company, Inc., and Cooper Tire & Rubber Company.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and San Diego, 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.
Pomerantz Grossman Hufford Dahlstrom & Gross LLP
212-661-1100 ext. 237
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