Block & Leviton LLP Investigates Life Technologies Corporation for Possible Breaches of Fiduciary Duty in Connection with Its Acquisition by Thermo Fisher Scientific Inc.
BOSTON, April 15, 2013 /PRNewswire/ -- Block & Leviton LLP (www.blockesq.com), a Boston-based law firm representing investors nationwide, has commenced an investigation into possible breaches of fiduciary duty by the Board of Directors of Life Technologies Corporation ("Life" or the "Company") (NASDAQ: LIFE) concerning the proposed acquisition of the Company by Thermo Fisher Scientific Inc. ("ThermoFisher") in an all-cash transaction.
Under the terms of the proposed transaction, Life shareholders will receive $76 for each Life share that they hold. This represents approximately a twelve percent premium to the Company's previous closing price. The Company's share price has increased more than 38% since the onset of 2013, and the stock was likely to continue its growth well beyond the offer price. As such, it appears that the proposed offer price provides an insufficient premium to shareholders.
Block & Leviton's investigation seeks to determine, among other things, whether Life's Directors breached their fiduciary duties by failing to maximize shareholder value in the proposed acquisition by ThermoFisher and the overall fairness of the process by which the Life Directors considered and approved the transaction.
If you are a Life shareholder and have questions about your legal rights, or if you have information relevant to this investigation, please contact attorney Steven P. Harte, at
(617) 398-5600 or email him at Steven@blockesq.com.
Block & Leviton is a Boston-based law firm representing investors nationwide for violations of securities laws. The firm's lawyers have collectively been prosecuting securities cases on behalf of investors for over 50 years. This notice may constitute attorney advertising.
BLOCK & LEVITON LLP
Steven P. Harte, Esq.
SOURCE Block & Leviton LLP