N🟁N

Briscoe Law Firm Investigates Orchid Cellmark Inc. for Shareholders Concerning Acquisition by Laboratory Corporation of America

  //health-fitness.news-articles.net/content/2011/ .. sition-by-laboratory-corporation-of-america.html
  Published in Health and Fitness on Thursday, April 14th 2011 at 10:05 GMT by Market Wire
          ^{🞛 This publication is a summary or evaluation of another publication}

DALLAS--([ BUSINESS WIRE ])--[ The Briscoe Law Firm, PLLC ], founded by a former state prosecutor and enforcement attorney for the United States Securities and Exchange Commission, and the securities litigation law firm of [ Powers Taylor, LLP ] are investigating potential legal claims against the Board of Directors of [ Orchid Cellmark Inc ]. (aOrchid Cellmarka) or aORCHa) (NASDAQ: ORCH) related to the proposed buyout of Orchid Cellmark by Laboratory Corporation of America Holdings.

The definitive merger agreement involves an all-cash transaction valued at approximately $85.4 million. Under the proposed buyout, Orchid Cellmark shareholders will receive only $2.80 in cash for each share of Orchid Cellmark/ORCH common stock they hold through a tender offer. The transaction is expected to close during the second quarter of 2011.

The firms are investigating the fairness of the proposed transaction to Orchid Cellmark shareholders and whether Orchid Cellmarka™s Board of Directors acted in the shareholdersa™ best interests. Specifically, at least one analyst has set a target price of $6.00 for ORCH shares. Further, the proposed acquisition price is not significantly higher that the prices that ORCH shares traded at in January 2011. Based on these and other factors, the firms do not believe that the acquisition price is fair to Orchid Cellmark shareholders. The firms are also investigating whether Orchid Cellmarka™s Board of Directors adequately considered all viable alternatives and properly shopped the company before entering into the acquisition agreement.

If you currently own shares of Orchid Cellmark/ORCH and would like additional information regarding this investigation, or if you have information regarding the allegations involved in this transaction, please contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at [ patrick@powerstaylor.com ], or Willie Briscoe at The Briscoe Law Firm, PLLC toll free (877) 397-5991, or via email at [ WBriscoe@TheBriscoeLawFirm.com ]. There is no cost or fee to you.

The Briscoe Law Firm is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation matters.

Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters nationwide, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.