Science & Technology
Briscoe Law Firm Investigates Vital Images, Inc. for Shareholders Concerning the Sale of the Company to Toshiba Medical Systems
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 Vital Images, Inc. (aVital Imagesa or aVTALa) (NASDAQ: VTAL) related to the buyout of Vital Images by a subsidiary of Toshiba Medical Systems Corporation.
"In addition, our firms are also investigating whether Vital Imagesa™ Board of Directors adequately considered all viable alternatives before entering into the agreement"
The definitive merger agreement, which was announced on April 27, 2011, involves an all-cash transaction valued at approximately $273 million. Under the proposed buyout, Vital Images shareholders will receive only $18.75 in cash for each share of Vital Images/VTAL common stock they hold through a tender offer commencing by May 11, 2011. The transaction is expected to close in the second or third quarter of 2011.
The firms are investigating the fairness of the proposed transaction to Vital Images shareholders and whether Vital Imagesa™ Board of Directors acted in the shareholdersa™ best interests. In particular, at least one analyst has set a target price as high as $19.00 per share, and VTAL shares closed above $15.20 per share as recently as February 2011. Based on these and other factors, the firms do not believe that the acquisition price is fair to Vital Images shareholders. aIn addition, our firms are also investigating whether Vital Imagesa™ Board of Directors adequately considered all viable alternatives before entering into the agreement,a said shareholder rights attorney Willie Briscoe.
If you currently own shares of Vital Images/VTAL 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.
