House & Home
Fri, April 20, 2012
DALLAS--([ BUSINESS WIRE ])--Former United States Securities and Exchange Commission attorney [ Willie Briscoe ] and the securities litigation firm of [ Powers Taylor, LLP ] are investigating the sale of X-Rite, Inc. (aX-Ritea or aXRITa) (NASDAQ: XRIT) to Danaher for shareholders. Under the proposed buyout, X-Rite shareholders will receive $5.55 in cash for each share of X-Rite stock owned.
"Based on the lack of a significant premium to X-Rite shareholders, and other factors, the firms are investigating whether the buyout price is fair to X-Rite shareholders. Our proposed shareholder lawsuit seeks to obtain additional value for shareholders than what is proposed in the current buyout offer."
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 [ patrick@powerstaylor.com ], 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.
The definitive merger agreement involves an all cash transaction with a total value of approximately $625 million including the assumption of debt. The transaction is expected to close during the second quarter 2012.
The investigation centers on whether X-Rite shareholders are receiving adequate compensation for their shares in the buyout, whether the transaction undervalues X-Riteas stock, and whether X-Riteas board attempted to obtain the highest share price for all shareholders prior to agreeing to the deal. According to shareholder rights attorney Willie Briscoe, aBased on the lack of a significant premium to X-Rite shareholders, and other factors, the firms are investigating whether the buyout price is fair to X-Rite shareholders. Our proposed shareholder lawsuit seeks to obtain additional value for shareholders than what is proposed in the current buyout offer."
[ 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.
