SHAREHOLDER ALERT: Brower Piven Announces The Investigation Of Medical Action Industries Inc. In Connection With The Proposed...
July 02 2014 - 3:55PM
Business Wire
The securities litigation law firm of Brower Piven, A
Professional Corporation, has commenced an investigation into
possible breaches of fiduciary duty and other violations of state
law by the board of directors of Medical Action Industries Inc.
(“Medical Action” or the “Company”) (NasdaqGS: MDCI) relating to
the proposed buyout of the Company by Owens & Minor, Inc.
(“Owens & Minor”).
It was announced on June 25, 2014, that Medical Action and Owens
& Minor have signed a definitive agreement under which Owens
& Minor will acquire all outstanding shares of Medical Action
in a merger valued at approximately $208 million. Under the terms
of the transaction, shareholders of Medical Action would receive
$13.80 in cash for each share of Medical Action they own.
The firm’s investigation seeks to determine, among other things,
whether the Company’s board of directors breached their fiduciary
duties by failing to maximize shareholder value before agreeing to
enter into this transaction, and whether Owens & Minor is
underpaying for Medical Action shares.
If you currently own common stock of Medical Action and would
like to learn more about the investigation being conducted by
Brower Piven, without cost or obligation to you, please visit our
website at http://www.browerpiven.com/currentinvestigations.html.
You may also request more information by contacting Brower Piven
either by email at hoffman@browerpiven.com or by telephone at (410)
415-6616.
Attorneys at Brower Piven have extensive experience in
litigating securities and other class action cases and have been
advocating for the rights of shareholders since the 1980s.
Brower Piven, A Professional CorporationCharles J. Piven,
410-415-66161925 Old Valley RoadStevenson, Maryland
21153hoffman@browerpiven.com
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