WeissLaw LLP Investigates the Synergetics USA Inc. Acquisition

Sep 09, 2015, 15:50 ET from WeissLaw LLP

NEW YORK, Sept. 9, 2015 /PRNewswire/ -- The fairness of the proposed acquisition of Synergetics USA Inc. ("SURG" or the "Company") by Valeant Pharmaceuticals International, Inc. is the subject of an investigation by WeissLaw LLP, a national class action, shareholder rights law firm.  The investigation is focusing on possible breaches of fiduciary duty and other violations of law by the Board of Directors of SURG for agreeing to sell the Company to Valeant.  On September 2, 2015, the Company announced it had reached a definitive agreement for Valeant to acquire SURG.  Under the terms of the agreement, SURG shareholders will receive $6.50 in cash for each SURG share they own.  SURG shareholders will also receive an additional $1.00 per share if certain specified sales goals are met after the close of the transaction in fourth quarter.

WeissLaw is investigating whether SURG's Board acted to maximize shareholder value prior to entering into the agreement.  Notably, several analysts set a target price of $7.00 per SURG share.  Additionally, on June 9, 2015, the Company announced positive financial results.  It reported total sales of $19.4 million in the third quarter of 2015, as compared with $16.1 million in the same period of the prior year, representing an increase of approximately 20% year-over-year. 

Given these facts, WeissLaw is investigating whether SURG's Board acted in the best interests of SURG's public shareholders by actively shopping the Company to maximize shareholder value prior to entering into the agreement with Valeant.  If you own SURG shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin or Kelly Keenan by telephone at (888) 593-4771 or by email at stockinfo@weisslawllp.com.

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 stockinfo@weisslawllp.com or fill out the form on our website, http://www.weisslawllp.com/contact/report_fraud/.

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