NEW YORK, April 29, 2013 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of Conceptus, Inc. ("Conceptus" or the "Company") (NASDAQ: CPTS) concerning the proposed acquisition of the Company by Bayer Healthcare LLC ("Bayer") in a transaction valued at approximately $1.1 billion.
On April 29, 2013, Conceptus announced that it had entered into a definitive agreement pursuant to which the Company will be acquired by Bayer. Under the terms of the agreement, Bayer will pay $31.00 per share of Conceptus common stock. On the same day, the Company reported a 22% increase in first quarter net revenues and a $4.7 million increase in quarterly profits from a loss of $2.8 million in first quarter 2012 to a profit of $1.9 million in first quarter 2013.
Our investigation concerns whether the board of directors is fulfilling its fiduciary duties, maximizing the value of Conceptus stock, disclosing all material benefits and costs and obtaining full and fair consideration for Conceptus public shareholders.
If you own Conceptus shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
Robert I. Harwood, Esq.
Peter W. Overs, Jr., Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Email: [email protected]
Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.
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SOURCE Harwood Feffer LLP