San Diego, Oct. 21, 2011 (Shareholders Foundation) -- Rumors about a potential sale of Holliston, Massachusetts-based Harvard Bioscience have prompted an investigation on behalf of investors of Harvard Bioscience, Inc. (NASDAQ:HBIO) over possible breaches of fiduciary duties.

The investigation by a law firm is at an early stage and monitors the situation. It concerns whether Harvard Bioscience, certain of its officers and directors, and/or others breach their fiduciary duties owed to Harvard Bioscience (NASDAQ HBIO) investors in the event of a takeover.
Media reports about a potential sale of Harvard Bioscience, Inc. sent NASDAQ:HBIO from $4.39 to $4.98 per share during October 20, 2011.

However, Harvard Bioscience, Inc. has performed well in the past for its investors. Its financial performance increased over the past years. Harvard Biosciences annual Revenue rose from $83.41million in 2007 to $108.18million to 2010 and its Net Income increased from a Net Loss of $1.35million for 2007 to a Net Income of $19.02million in 2010. Its second quarter Revenue rose from $25.91million last year to $27.14million this year.

Additional, in the past years shares of Harvard Bioscience, Inc. (Public, NASDAQ:HBIO) grew at an exceptional growth rate. NASDAQ: HBIO stocks increased from as low as $1.92 per share in November 08 to as high as $6.00 per share in July 2011.

Therefore the investigation by a law firm questions whether a potential sale process and the potential price would be unfair to the shareholders of Harvard Bioscience (HBIO). The investigation focuses also whether the Harvard Bioscience board of directors will undertake an adequate and fair sales process to obtain fair consideration for all shareholders of NASDAQ:HBIO and will breach their fiduciary duties to Harvard Bioscience (NASDAQ:HBIO) shareholder by failing to adequately shop the Company before entering into any transaction. Further, the investigation concerns also whether the acquirer would underpay for NASDAQ:HBIO shares, thus unlawfully harming Harvard Bioscience investors. A potential class action lawsuit would seek to maximize the amount of money and information Harvard Bioscience, Inc. (HBIO) shareholders would receive in a buyout, so the law firm.