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The Law Office of Abe Shainberg Launches an Investigation into the Possible Breaches of Fiduciary Duty by the Board of Matrixx

^{Published on 2010-12-15 10:30:33 - Market Wire}
 

NEW YORK--([ BUSINESS WIRE ])--The Law Office of Abe Shainberg is investigating the Board of Directors of Matrixx Initiatives (aMatrixxa or the aCompanya) (NASDAQ:MTXX) for possible breaches of fiduciary duty and other violations of state law in connection with the proposal from H.I.G. Capital, LLC. (aH.I.G.a) to acquire all outstanding shares of Matrixx. Under the terms of the proposed transaction, Matrixx shareholders will receive $8.00 per share in cash for a total transaction value of approximately $75.2 million.

The investigation concerns whether the Matrixx Board of Directors breached their fiduciary duties to Matrixx stockholders by failing to adequately shop the Company before entering into this transaction and whether H.I.G. is underpaying for Matrixx shares. According to Thomson/FirstCall, at least one analyst set a price target for Matrixx stock at $8.50 per share.

If you own common stock in Matrixx and wish to obtain additional information, please contact Abe Shainberg, Esq. either via email at [ as@ashainberglaw.com ] or by telephone at (212) 425-7286, or visit [ http://www.ashainberglaw.com/matrixx-mtxx.html ].

Mr. Shainberg has expertise in prosecuting investor securities litigation, is a certified and registered arbitrator and mediator involving financial matters, and represents investors in various matters nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.