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The Law Office of Joseph Klein is Investigating into the Possible Breaches of Fiduciary Duty by the Board of Matrixx Initiative

^{Published on 2010-12-22 16:01:21 - Market Wire}
 

NEW YORK--([ BUSINESS WIRE ])--The Law Office of Joseph Klein is investigating the Board of Directors of Matrixx Initiatives (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. to acquire all outstanding shares of Matrixx. Under the terms of the proposed deal, Matrixx shareholders will receive $8.00 in cash per share 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 Yahoo! Finance, 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 Joseph Klein, Esq. directly, via email at [ jk@jkleinlawfirm.com ], by telephone at 718-947-0005, Toll Free: 877-STOK-180, or visit [ http://www.jkleinlawfirm.com/matrixx-initiatives-mtxx.html ].

Joseph Klein, Esq. is an experienced attorney and has also practiced as a Certified Public Accountant. Mr. Klein represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.