Stull, Stull & Brody Announces Class Action on Behalf of Shareholders of Candela Corporation
October 09 2009 - 3:41PM
Business Wire
Attorney Advertising. Notice is hereby given that a class action
has been commenced on behalf of shareholders of Candela Corporation
(“Candela” or the “Company”) (Nasdaq: CLZR) for breaches of
fiduciary duty and other violations of state law in connection with
an agreement by the Company’s Board of Directors to sell all of the
Company’s outstanding shares of common stock to Syneron Medical
Ltd. (“Syneron”) in a transaction valued at approximately $65
million. Under the terms of the proposed transaction, shareholders
of Candela will receive 0.2911 shares of Syneron ordinary shares
for each share of Candela owned (the “Exchange Ratio”). Syneron
will issue 6.7 million ordinary shares, valuing Candela at
approximately $2.84 per share.
If you own common stock of Candela and wish to obtain additional
information about this matter, please contact Stull, Stull &
Brody at the toll-free number listed below. Stull, Stull &
Brody has litigated many class actions for violations of securities
laws and breaches of fiduciary duties on behalf of defrauded
investors over the past 40 years and has obtained court approval of
substantial settlements on numerous occasions.
The current investigation concerns the proposed Exchange Ratio
offered to Candela shareholders and the process by which Candela’s
Board of Directors is addressing the proposed transaction. The
transaction is expected to close by year end. The focus of the
investigation is on whether the Candela Board of Directors breached
their fiduciary duties to Candela’s shareholders by agreeing to
sell the Company at an unfair price.
If you wish to discuss this matter or have any questions
concerning this notice or your rights or interests with respect to
this matter, please contact Aaron Brody, Esq. at Stull, Stull &
Brody by calling 1-800-337-4983 or 1-212-687-7230, or by email to
ssbny@aol.com or by writing to Stull, Stull & Brody, 6 East
45th Street, New York, NY 10017.
Attorney advertising. Prior results do not guarantee a similar
outcome.
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