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Analogic Corporation (NASDAQ: ALOG) Investor Lawsuit Against Acquisition By Altaris Capital Partners, LLC Filed

  • Investors who purchased shares of Analogic Corporation (NASDAQ: ALOG)may have certain options. Please contact the Shareholders Foundation, Inc.

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Lawsuit Overview

Case Dismissed
Company
Analogic Corporation
Security
NASDAQ: ALOG

Case Name
Analogic Deal Case
Type of Lawsuit
Mergers and Acquisition
Court of Filing
U.S. District Court for the District of Massachusetts

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Class Period End
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Summary

September 30, 2019 - The court granted the defendants' motion to dismiss. The case was dismissed with prejudice.
December 17, 2018 - A motion to dismiss the consolidated amended complaint was filed.

November 14, 2018 - An amended consolidated complaint was filed.

May 14, 2018 - An investor, who currently holds shares of Analogic Corporation (NASDAQ: ALOG), filed a lawsuit in effort to halt the proposed takeover of of Analogic Corporation by Altaris Capital Partners, LLC for $84.00 per share.

The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ: ALOG stockholders by agreeing to sell Analogic Corporation cheaply via an unfair process.

Peabody, MA based Analogic Corporation designs, manufactures, and sells medical imaging systems, ultrasound and security systems, and subsystems to original equipment manufacturers (OEMs) and end users primarily for the medical and airport security markets worldwide.

On April 10, 2018, Analogic Corporation (NASDAQ:ALOG) and Altaris Capital Partners, LLC, a leading private investment firm with expertise in Analogic's end markets, today announced that the Company and an affiliate of Altaris Capital Partners (together with certain affiliated entities, Altaris ) have entered into a merger agreement under which Analogic will be acquired by Altaris for $84.00 per share in cash, or approximately $1.1 billion on a fully diluted basis.

However, the plaintiff claims that the proposed consideration NASDAQ: ALOG shareholders will receive is grossly inadequate and undervalues Analogic Corporation. Indeed, at least one analyst has set the high target price for NASDAQ: ALOG shares at $95.00 per share. In addition, the plaintiff alleges that the process is also unfair NASDAQ: ALOG stockholders.