SAN DIEGO, Sept. 11, 2018 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Invuity, Inc. (NASDAQ :IVTY ) ("Invuity") breached their fiduciary duties in connection with the proposed sale of the Company to Stryker Corporation (NYSE :SYK ).
On September 11, 2018, Invuity announced that it had signed a definitive merger agreement with Stryker. Under the terms of the agreement, Invuity stockholders will receive $7.40 per share in cash.
The investigation concerns whether the Invuity board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for Invuity shares of common stock. Nationally recognized Johnson Fistel is investigating whether the proposed deal price represents adequate consideration, especially given Wall Street analysts' projections for Invuity's future revenue growth. The 52-week high for Invuity was $9.55.
If you are a shareholder of Invuity and believe the proposed buyout price is too low or you're interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (firstname.lastname@example.org) at 619-814-4471. If emailing, please include a phone number.
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About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit https://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
SOURCE Johnson Fistel, LLP