VIRTUALSCOPICS INC. SHAREHOLDER ALERT: Former SEC Attorney Willie Briscoe & Powers Taylor LLP Investigate Sale to BioTelemetr...
March 28 2016 - 3:54PM
Business Wire
Former United States Securities and Exchange Commission attorney
Willie Briscoe and the securities litigation firm of Powers Taylor
LLP are investigating potential claims against the Board of
Directors of VirtualScopics Inc. (“VirtualScopics”) (NasdaqCM:
VSCP) concerning the sale to BioTelemetry, Inc. Under the terms of
the agreement, VirtualScopics common shareholders will only receive
$4.05 per share, which is virtually no premium over the 52-week
high and lower than at least one analyst’s estimated value of $7.00
per share. Series A and Series B Convertible Preferred Stock
shareholders will receive $336.30 per share and Series C-1
Convertible Preferred Stock holders will receive $920.00 per share.
The tender offer is expected to commence on April 11, 2016 and will
be open for a minimum of 20 business days.
If you are an affected investor, and you want to learn more
about the investigation or if you have information that you believe
would be helpful to our investigation of the fairness of the
proposed transaction, contact Willie Briscoe at The Briscoe Law
Firm, PLLC via email at shareholders@thebriscoelawfirm.com, Patrick
Powers at Powers Taylor LLP via e-mail at
shareholder@powerstaylor.com or by calling toll free at (877)
728-9607. There is no cost or fee to you.
The investigation centers on whether VirtualScopics’s Board of
Directors is acting in the shareholders’ best interests, whether
the board considered alternatives to the acquisition, and whether
the board has employed an adequate process to review and act on the
proposed transaction. Notably, at least one analyst with Yahoo!
Finance believes the true inherent value of the stock could be as
high as $7.00.
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20160328005672/en/
The Briscoe Law Firm, PLLCWillie Briscoe,
877-728-9607shareholders@thebriscoelawfirm.comorPowers Taylor
LLPPatrick Powers, 877-728-9607shareholder@powerstaylor.com
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