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HealthTronics Inc. Board Hit by Investigations for Accepting the Endo Offer

  • If you currently hold shares of HealthTronics Inc. (NASDAQ:HTRN)), 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 investigation, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Investigation Overview

Company
HealthTronics Inc.
Security
NASDAQ: HTRN

Summary

After HealthTronics Inc. announced to be acquired by Endo Pharmaceuticals Holdings Inc. an investigation on behalf of current investors in HealthTronics Inc. (NASDAQ:HTRN) concerning shareholder claims over possible breaches of fiduciary duty was announced.

The investigation by a law firm focuses on potential breaches of fiduciary duty and other violations of state law by the Board of Directors of HealthTronics arising out of their attempt to sell HealthTronics Inc. (NASDAQ:HTRN) to Endo Pharmaceuticals Holdings Inc. HealthTronics, Inc., located in Austin, Texas, provides healthcare services and manufacture medical devices, primarily for the urology community. HealthTronics Inc. reported in 2007 Total Revenue of $140.42million, in 2008 $165.94million, and in 2009 $185.33million.

On Wednesday, May 5, 2010, HealthTronics, Inc. (Nasdaq: HTRN) announced that it has signed a merger agreement with Endo Pharmaceuticals (Nasdaq: ENDP) pursuant to which Endo Pharmaceuticals will acquire HealthTronics.in an all cash tender offer for approximately $223 million or $4.85 cash per HealthTronics share. According to HealthTronics the transaction has been approved by its boards of directors.

Shares of HealthTronics Inc. (HTRN) inclined from $3.69 per share before the after the takeover announcement to $4.82 per share, on Wednesday May 05, 2010. HTRN shares were down from over $6 per share in 2007, $8.50 per share in 2006, and $13.92 per share in 2005. At least one analysts set a price target for HealthTronics stock (HTRN) at $7.00 per share.

The investigation by a law firm concerns whether the HealthTronics IBoard of Directors breached their fiduciary duties to HealthTronics Inc. (NASDAQ:HTRN) stockholders by failing to adequately shop the Company prior to entering into the agreement, whether the Board of Directors breached their fiduciary duties by not seeking a deal that would provide better value HealthTronics Inc., and whether Endo Pharmaceuticals Holdings Inc is underpaying for HealthTronics Inc. (HTRN), thus unlawfully harming HTRN stockholders.

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