NEW YORK, Feb. 18, 2014 /PRNewswire/ -- Levi & Korsinsky commenced an investigation of the Board of Directors of LCA-Vision Inc. ("LCA" or "the Company") (NasdaqGS: LCAV) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to PhotoMedex, Inc. (NasdaqGS: PHMD).
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Under the terms of the transaction, LCA shareholders will receive $5.37 for each share of LCA common stock they own. The transaction has a total approximate value of $106.4 million. The investigation concerns whether the LCA Board breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether PhotoMedex, Inc. is underpaying for LCA shares. In particular, at least one analyst set a price target for LCA stock at $8.00 per share.
If you own LCA common stock and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/lca-vision-lcav.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm's 26 attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (866) 367-6510
SOURCE Levi & Korsinsky, LLP