NEW YORK, Nov. 20, 2015 /PRNewswire/ -- The proposed acquisition of Liberator Medical Holdings Inc. ("LBMH" or the "Company") by C. R. Bard Inc. ("C. R. Bard") is being investigated by WeissLaw LLP for possible breaches of fiduciary duty and other violations of law by the Board of Directors of LBMH. On November 20, 2015, the Company announced it had reached a definitive agreement for C. R. Bard to acquire all outstanding shares of LBMH in a transaction valued at approximately $181 million. Under the terms of the agreement, LBMH shareholders will receive $3.35 in cash for each LBMH share they own.
WeissLaw is investigating whether LBMH's Board acted to maximize shareholder value prior to entering into the agreement. Notably, at least one analyst set a target price of $8.00 per LBMH share, more than double the offer price. Additionally, the Company has reported record revenues in fiscal year 2014, announcing year-over-year growths of 14.2% and 11.7% in the first and second quarters respectively.
Given these facts, WeissLaw is investigating whether LBMH's Board acted in the best interests of LBMH's public shareholders by actively shopping the Company to maximize shareholder value prior to entering into the agreement with C. R. Bard. If you own LBMH shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at firstname.lastname@example.org.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at email@example.com or fill out the form on our website, http://www.weisslawllp.com/contact/report_fraud/.
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SOURCE WeissLaw LLP