Health & Fitness
Mon, April 18, 2011Sun, April 17, 2011Fri, April 15, 2011Thu, April 14, 2011Wed, April 13, 2011Tue, April 12, 2011Law Office of Brodsky & Smith, LLC Announces Investigation of Orchid Cellmark, Inc.
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Published in Health and Fitness on Wednesday, April 13th 2011 at 20:40 GMT by Market Wire🞛 This publication is a summary or evaluation of another publication
BALA CYNWYD, Pa.--([ BUSINESS WIRE ])--Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Orchid Cellmark, Inc. (aOrchida or the aCompanya) (Nasdaq: ORCH) relating to the proposed acquisition by Laboratory Corporation of America Holdings (aLabCorpa). The deal is worth approximately $85.4 million.
Under the terms of the transaction Orchid shareholders would receive $2.80 for each share Orchid stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Orchid by not acting in the Companya™s shareholders' best interests in connection with the sale process to LabCorp. The transaction may undervalue Orchid as the offer is not significantly higher the April 6, 2011 Orchid share price of $2.76. Additionally, one analyst has set a price target of $6.00 for the Company.
If you own shares of Orchid stock and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at [ investorrelations@brodsky-smith.com ], visiting [ http://brodsky-smith.com/276-orch-orchid-cellmark-inc.html ], or by calling toll free 877-LEGAL-90.