Health & Fitness
Health and Fitness
Health and Fitness 
Tue, May 17, 2011
Mon, May 16, 2011
Robbins Umeda LLP Is Investigating Orthovita, Inc. Acquisition for Shareholders
SAN DIEGO--([ BUSINESS WIRE ])--Robbins Umeda LLP, a [ shareholder rights litigation ] firm, is interested in helping shareholders of Orthovita, Inc. (NADSAQ: VITA). The firm has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by members of the board of directors of Orthovita in connection with their efforts to sell Orthovita to Stryker Corporation (NYSE: SYK).
If you own stock in Orthovita and would like more information about your [ shareholder rights ], please contact Gregory E. Del Gaizo at 800-350-6003 or via the [ shareholder information form ] on our website.
On May 16, 2011, Stryker announced it has entered into a definitive agreement to acquire Orthovita. Under the terms of the agreement, Orthovita shareholders will receive $3.85 in cash for each outstanding share of Orthovita common stock. The acquisition of Orthovita will be completed through a cash tender offer that is expected to commence within 10 business days and close in the second quarter 2011. The tender offer will be followed by a second step merger.
The investigation focuses on whether Orthovita's board is undertaking a fair process to obtain maximum value for its shareholders. Of particular interest, three analysts have a price target of $4.00 for Orthovita, higher than the offer price.
Robbins Umeda LLP represents individual and institutional shareholders in derivative, direct, and class action lawsuits. The firm's skilled litigation teams include former federal prosecutors, former defense counsel from top multinational corporate law firms, and career [ shareholder rights attorneys ]. Robbins Umeda LLP has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. For more information, please go to [ http://www.robbinsumeda.com ].
Press release link: [ http://www.robbinsumeda.com/shareholders-rights-blog/orthovita-inc/ ]
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