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Rigrodsky & Long, P.A. Investigates Buyout of TomoTherapy Incorporated - TOMO

^{Published on 2011-03-07 10:30:18 - Market Wire}
 

WILMINGTON, Del.--([ BUSINESS WIRE ])--[ Rigrodsky & Long, P.A. ] announces that it is investigating potential claims against the board of directors of TomoTherapy Incorporated (aTomoTherapya or the aCompanya) (Nasdaq: [ TOMO ]) concerning possible breaches of fiduciary duty and other violations of law related to the Companya™s entry into an agreement to be acquired by Accuray (Nasdaq: [ ARAY ]) in a transaction with a total value of approximately $277 million. Click here to learn how to join the action: [ http://www.rigrodskylong.com/news/TomoTherapyIncorprated-TOMO ].

Under the proposed agreement, TomoTherapy shareholders will receive $3.15 in cash and 0.1648 shares of Accuray common stock for each share of TomoTherapy common stock they own. Based on the closing price of Accuraya™s common stock on March 4, 2011, the stock component of the consideration is valued at $1.65 per share.

The investigation concerns whether TomoTherapya™s board of directors failed to adequately shop the Company and obtain the best price possible for TomoTherapya™s shareholders or whether they put their interests above of those of the Companya™s shareholders before entering into the agreement with Accuray. Indeed, according to Yahoo! Finance, at least one analyst has set a price target of $5.00 per share for TomoTherapy stock.

If you own the common stock of TomoTherapy and purchased your shares before March 7, 2011, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact [ Seth D. Rigrodsky, Esquire ] or [ Noah R. Wortman, Case Development Director ], of Rigrodsky & Long, P.A., 919 N. Market Street, Suite 980, Wilmington, Delaware, by telephone at (888) 969-4242, or by e-mail to [ info@rigrodskylong.com ].

Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.

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