Palomar Medical Technologies Inc (NASDAQ:PMTI) Investor Investigation Of Takeover Bid By Cynosure, Inc

If you purchased shares of Palomar Medical Technologies Inc (NASDAQ:PMTI) prior to March 18, 2013, and currently hold any of those NASDAQ:PMTI shares, you have certain options and you should contact the Shareholders Foundation, Inc.

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Company Name(s): 
Palomar Medical Technologies

Mar. 18, 2013 (Shareholders Foundation) - An investigation on behalf of investors in Palomar Medical Technologies Inc (NASDAQ:PMTI) shares was announced concerning whether the offer by Cynosure, Inc to acquire Palomar Medical Technologies for a value of $13.65 per NASDAQ:PMTI share and the takeover process are unfair to investors in Palomar Medical Technologies shares.

The investigation by a law firm concerns whether certain officers and directors of Palomar Medical Technologies Inc breached their fiduciary duties owed to NASDAQ:PMTI investors in connection with the proposed acquisition.

On March 18, 2013, Cynosure, Inc. (NASDAQ: CYNO) and Palomar Medical Technologies, Inc. (NASDAQ: PMTI) announced that they have signed an agreement, pursuant to which Cynosure will acquire Palomar Medical Technologies in a cash and stock transaction valued at approximately $294 million.
Palomar shareholders will receive $13.65 per share of Palomar common stock: $6.825 per share in cash and $6.825 per share in Cynosure common stock (subject to adjustment and collar provisions described in the definitive agreement).

However, given that at least one analyst has set the high target price for NASDAQ:PMTI shares at $14.50 per share, the investigation a law firm concerns whether the $13.65-offer is too low for NASDAQ:PMTI stockholders. The investigation focuses on whether the Palomar Medical Technologies Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.