NEW YORK, Dec. 18, 2013 /PRNewswire/ -- Levi & Korsinsky is investigating the Board of Directors of Solta Medical, Inc. ("Solta Medical") (NasdaqGS: SLTM) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Valeant Pharmaceuticals International, Inc. (NYSE: VRX).
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Under the terms of transaction, Solta Medical shareholders will receive $2.92 in cash for each share of Solta Medical stock they own. The transaction has a total approximate value of $250 million. The investigation concerns whether the Solta Medical Board of Directors breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Valeant Pharmaceuticals International, Inc. is underpaying for Solta Medical shares. In particular, at least one analyst set a price target for Solta Medical stock at $4.00 per share.
If you own Solta Medical common stock and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/ solta-medical-sltm/.
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