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Conceptus, Inc. (NASDAQ:CPTS) Investor Files Lawsuit Over alleged Wrongdoing in Takeover

  • If you purchased shares of Conceptus, Inc. (NASDAQ:CPTS) prior to April 29, 2013, and currently hold any of those NASDAQ:CPTS shares, you have certain options and you should contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Company
Conceptus, Inc.
Security
NASDAQ: CPTS

Case Name
Conceptus Deal Case 05/10/2013
Type of Lawsuit
Mergers and Acquisition
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Summary

May 13, 2013 (Shareholders Foundation) - An investor, who currently hold NASDAQ:CPTS shares, filed a lawsuit in effort to halt the proposed takeover of Conceptus, Inc. by Bayer HealthCare LLC for $31.00 per NASDAQ:CPTS share.
On April 29, 2013, Conceptus, Inc. announced that Conceptus has signed a merger agreement with Bayer HealthCare LLC under which Bayer HealthCare LLC will launch a public tender offer to acquire all shares of common stock of Conceptus, Inc. The transaction values Conceptus, Inc. at approx. US$1.1 billion (approx. €852 million) representing US$31.00 per share in cash.

However, the plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:CPTS stockholders by agreeing to sell the company at an unfair price via an unfair process.

Conceptus, Inc. reported that its annual Total Revenue rose from $126.98 million in 2011 to $140.73 million in 2012 and that its Net Loss of $7.94 million in 2011 turned into a Net Income of $5.38 million in 2012.

Shares of Conceptus, Inc. grew from as low as $9.98 in September 2011 to as high as $27.01 per share on April 25, 2013.

On May 13, 2013, NASDAQ:CPTS shares closed at $30.98 per share.