Law Offices of Marc S. Henzel Commences Investigations of American Residential Properties, Inc., HF Financial Corp., Mattson Technology, Inc., Osiris Therapeutics, Inc., and XBiotech Inc.

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Dec 07, 2015, 09:11 ET

MERION STATION, Pa., Dec. 7, 2015 /PRNewswire/ --

American Residential Properties, Inc. (NYSE: ARPI)

The firm is investigating potential claims against the Board of Directors of American Residential Properties, Inc. (NYSE: ARPI) for possible breaches of fiduciary duty and other violations in connection with the merger with American Homes 4 Rent (NYSE: AMH).

Under the merger agreement, at closing, each share of American Residential Properties common stock and each limited partnership unit in its operating partnership will be exchanged for 1.135 common shares or limited partnership units of American Homes 4 Rent, representing a current value per share/unit of American Residential Properties of $19.01 based on American Homes 4 Rent closing price on December 2, 2015, a 19.8% premium over the volume weighted average closing price of American Residential Properties common stock over the 20 trading days ending on December 2, 2015, and an 8.7% premium over American Residential Properties' closing price on December 2, 2015. The exchange ratio is not subject to adjustment.

If you would like to learn more about the investigation or you wish to discuss this matter, please contact Marc S. Henzel (610) 660-8000, email at [email protected], or visit the firms website at www.henzellaw.com.

HF Financial Corp. (Nasdaq: HFFC)

The firm is investigating potential claims against the board of directors of HF Financial Corp. ("HF Financial" or the "Company") (HFFC) concerning the proposed acquisition of the Company by Great Western Bancorp, Inc. ("Great Western").

Under the terms of the offer, Great Western would acquire HF Financial in a transaction valued at approximately $139.5 million. Pursuant to the deal, HF Financial stockholders would receive either 0.65 shares of Great Western or $19.50 in cash per share of HF Financial owned.

Mattson Technology Inc. (Nasdaq: MTSN)

The firm has commenced an investigation into the fairness of the sale of Mattson Technology, Inc. to Beijing E-Town Dragon Semiconductor Industry Investment Center (Limited Partnership) for $3.80 in cash per share.

Mattson Technology, Inc. (NASDAQ: MTSN) and Beijing E-Town Dragon Semiconductor Industry Investment Center (Limited Partnership) ("E-Town Dragon"), jointly announced that they have entered into a definitive merger agreement under which E-Town Dragon will acquire all of the outstanding shares of Mattson for $3.80 per share in cash. The transaction price represents a 55 percent premium to the 30-trading day average closing price for the period ending December 1, 2015, a 23 percent premium to Mattson's closing stock price on December 1, 2015, and values Mattson's equity at approximately $300 million on a fully diluted basis.

Osiris Therapeutics, Inc. (Nasdaq: OSIR)

The Law Office is investigating Osiris Therapeutics, Inc. (Nasdaq: OSIR) concerning possible violations of federal securities laws by the Company and/or certain of its officers and directors.

According to a complaint filed, between May 12, 2014 thru November 20, 2015 ("Class Period")the defendants issued false and misleading statements to investors and/or failed to disclose that: (1) Osiris improperly recognized revenue under contracts it had with its distributors; (2) Osiris' disclosure controls and procedures were not effective as of December 31, 2014, March 31, 2015, and June 30, 2015; and (3) as a result, defendants' statements about Osiris' business and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

The Company announced that it is determined to correct the revenue recognition for three contracts which will result in a decrease in product revenues of $1.8 million in the first quarter of 2015, a decrease in product revenues of $1.0 million in the second quarter, an increase in product revenues of $0.8 million in the third quarter of 2015 and a decrease in product revenues of $1.1 million in 2014. When the truth was revealed, shares dropped causing investors harm.

XBiotech Inc. (Nasdaq: XBIT)

The Law Office is investigating XBiotech Inc. (Nasdaq: XBIT) concerning possible violations of federal securities laws by the Company and/or certain of its officers and directors. According to a complaint filed, between April 15, 2015 and November 23, 2015, ("Class Period") defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company's business, operations and prospects. As a result of defendants' alleged false and misleading statements, the price of Company's stock was artificially inflated.

On November 23, 2015, the Company issued a press release detailing problems with the number of patients in its Phase III study. According to the release, the Company reported that data cleaning had revealed a fewer number of per protocol patients available for primary endpoint evaluation. The Company indicated that the irregularities found compromised data from 72 patients in the study.

On this news, shares in XBiotech dropped over 33%, closing at $8.75 per share on November 24, 2015, on heavy trading volume.

The Law Offices of Marc S. Henzel is a national shareholder litigation firm representing shareholders & investors in various areas of securities laws including but not limited to; class actions, derivatives, transactional (buyouts/mergers/acquisitions) and FINRA & NYSE Arbitrations.

Attorney advertising. © 2015 Law Offices of Marc S. Henzel. The law firm responsible for this advertisement is Marc S. Henzel. Prior results do not guarantee or predict a similar outcome with respect to any future matter.

Contact:
Law Offices of Marc S. Henzel
Marc S. Henzel
Email: [email protected]
Phone 610-660-8000
Website: www.henzellaw.com.

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