NEW YORK, March 22, 2019 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Restoration Robotics, Inc. ("HAIR" or the "Company") (NASDAQ: HAIR) in connection with the proposed acquisition of the Company by Venus Concept Ltd. ("Venus Concept"). Under the terms of the acquisition agreement, HAIR shareholders will own a meager 15% of the combined company, as compared to a whopping 85% stake held by Venus Concepts shareholders.
If you own HAIR shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, please contact:
Joshua Rubin, Esq.
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WeissLaw is investigating whether HAIR's Board acted to maximize shareholder value prior to entering into the agreement. Notably, the company recently announced positive financial results. It reported revenue of $6.7 million in the fourth quarter of 2018, representing an increase of 14% annually when compared to the figures reported in the period of the previous year.
Moreover, the deal is a strategic transaction which Venus Concept hopes to leverage to diversify its portfolio. According to Domenic Serafino, Chairman and CEO Venus Concept, the acquisition of HAIR will enable Venus Concept "to offer an end-to-end portfolio of minimally invasive solutions, unique from competitors in the hair restoration market today."
Given these facts, WeissLaw is concentrating its investigation on whether HAIR's Board conducted a fair process in agreeing to the proposed acquisition, whether the proposed acquisition undervalues the Company, and whether all material information related to the proposed acquisition is fully and fairly disclosed.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at email@example.com
SOURCE WeissLaw LLP