Kendle International, Inc. Shareholder Investigation by The Briscoe Law Firm Concerning Acquisition by INC Research, LLC
May 09 2011 - 10:07AM
Business Wire
The Briscoe Law Firm, PLLC, founded by a former state prosecutor
and enforcement attorney for the United States Securities and
Exchange Commission, and the securities litigation law firm of
Powers Taylor, LLP are investigating potential legal claims against
the Board of Directors of Kendle International, Inc. (“Kendle
International” or “KNDL”) (NASDAQ: KNDL) related to the buyout of
Kendle International by INC Research, LLC.
The definitive merger agreement, which was announced on May 4,
2011, involves an all-cash transaction valued at approximately $232
million. Under the proposed buyout, Kendle International
shareholders will receive $15.25 in cash for each share of Kendle
International/KNDL common stock they hold. The transaction is
expected to close in the third quarter of 2011.
The firms are investigating the fairness of the proposed
transaction to Kendle International shareholders, whether the
shareholders are being underpaid for their stock, and whether
Kendle International’s Board of Directors acted in the
shareholders’ best interests. Specifically, as recently as May
2010, Kendle International shares closed as high as $15.81 per
share, and at least one analyst has set a target price of $18.00
for Kendle International/KNDL shares. Based on these and other
factors, the firms do not believe that the acquisition price is
fair to Kendle International shareholders. The firms are also
investigating whether Kendle International’s Board of Directors
adequately considered all viable alternatives a before entering
into the agreement.
If you currently own shares of Kendle International/KNDL and
would like additional information regarding this investigation, or
if you have information regarding the allegations involved in this
transaction, please 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 toll free (877)
397-5991, or via email at WBriscoe@TheBriscoeLawFirm.com. There is
no cost or fee to you.
The Briscoe Law Firm is a full service business litigation and
shareholder rights advocacy firm with more than 20 years of
experience in complex litigation matters.
Powers Taylor, LLP is a boutique litigation law firm that
handles a variety of complex business litigation matters
nationwide, including claims of investor and stockholder fraud,
shareholder oppression, shareholder derivative suits, and security
class actions.
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