Health & Fitness
Health and Fitness
Health and Fitness 
Tue, March 8, 2011
Mon, March 7, 2011
The Law Office of Abe Shainberg Launches an Investigation into Possible Breaches of Fiduciary Duty by the Board of TomoTherapy
NEW YORK--([ BUSINESS WIRE ])--The Law Office of Abe Shainberg is investigating the Board of Directors of TomoTherapy Incorporated (Nasdaq: TOMO) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the company to Accuray Incorporated (Nasdaq: ARAY). Under the terms of the agreement, TomoTherapy stockholders will receive $3.15 in cash and 0.1648 shares of Accuray stock per share of TomoTherapy. Based on prior closing prices, the transaction values TomoTherapy stock at $4.80 per share for a total transaction value of approximately $277 million.
The investigation concerns whether the TomoTherapy Board of Directors breached their fiduciary duties to TomoTherapy stockholders by failing to adequately shop the Company before entering into this transaction and whether Accuray is underpaying for TomoTherapy shares, thus unlawfully harming TomoTherapy stockholders. According to Yahoo! Finance, at least one analyst set a price target of $5.00 per share for TomoTherapy stock.
If you own common stock in TomoTherapy 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/tomotherapy-inc.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.