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The Law Offices of Vincent Wong Announce an Investigation into the Possible Breaches of Fiduciary Duty by the Board of Matrixx

^{Published on 2010-12-23 16:11:14 - Market Wire}
 

NEW YORK--([ BUSINESS WIRE ])--The Law Offices of Vincent Wong 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. (aH.I.G.a) to acquire all outstanding shares of Matrixx. Under the terms of the transaction, 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. At least one analyst set a price target for Matrixx stock at $8.50.

If you own common stock in Matrixx and wish to obtain additional information, please contact Vincent Wong, Esq. either via email [ vw@wongesq.com ], by telephone at 212.584.2740, or visit [ http://www.wongesq.com/matrixxmtxx.html ].

Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.