WILMINGTON, Del., March 25, 2013 /PRNewswire/ -- Rigrodsky & Long, P.A.:
- Do you own shares of Palomar Medical Technologies, Inc. (NASDAQ GS: PMTI)?
- Did you purchase any of your shares prior to March 18, 2013?
- Do you think the proposed buyout price is too low?
- Do you want to discuss your rights?
Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of Palomar Medical Technologies, Inc. ("Palomar" or the "Company") (NASDAQ GS: PMTI) regarding possible breaches of fiduciary duties and other violations of law related to the Company's entry into an agreement to be acquired by Cynosure, Inc. ("Cynosure") (NASDAQ GS: CYNO) in a transaction valued at approximately $294 million.
Click here to learn more: http://www.rigrodskylong.com/investigations/palomar-medical-technologies-inc-pmti.
Under the terms of the proposal, public shareholders of Palomar will receive $13.65 per share of Palomar common stock: $6.825 per share in cash and $6.825 per share in Cynosure common stock.
The investigation concerns whether Palomar's board of directors failed to adequately shop the Company and obtain the best possible value for Palomar's shareholders before entering into an agreement with Cynosure. According to Yahoo! Finance, at least one analyst has set a price target for Palomar stock at $14.50 per share.
If you own the common stock of Palomar and purchased your shares before March 18, 2013, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth Rigrodsky or Brian Long at Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, Delaware 19803, by telephone at (302) 295-5310, or Peter Allocco at Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, New York 11530, by telephone at (888) 969-4242; by e-mail to firstname.lastname@example.org, or at: http://www.rigrodskylong.com/investigations/palomar-medical-technologies-inc-pmti.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, on behalf of shareholders in states and federal courts throughout the United States.
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