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Kensey Nash Corporation (NASDAQ:KNSY) Investor Files Lawsuit Against Directors Over Alleged Breaches Of Fiduciary Duties In Proposed Takeover by Royal DSM

  • If you purchased shares of Kensey Nash Corporation (NASDAQ:KNSY) prior to May 3, 2012 and currently hold any of those NASDAQ:KNSY 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
Security
NASDAQ: KNSY

Case Name
Kensey Nash Deal Case 05/11/2012
Type of Lawsuit
Mergers and Acquisition
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Summary

May 15, 2012 (Shareholders Foundation) -- An investor in NASDAQ:KNSY shares filed a lawsuit in State Court against directors of Kensey Nash Corporation in effort to stop the proposed acquisition of Kensey Nash Corporation by Royal DSM at $38.50 per NASDAQ:KNSY share.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:KNSY investors arising out of the attempt to sell the company too cheaply via an unfair process.

On Thursday, May 3, 2012, Kensey Nash Corporation announced that it has entered into an agreement with Royal DSM, under which Royal DSM has agreed to acquire all of the common stock of Kensey Nash Corporation through a cash tender offer, followed by a merger with a subsidiary of Royal DSM, for $38.50 per share in cash.

However, the plaintiff claims that defendants have failed to get the best price for NASDAQ:KNSY shares and the proposed transaction is product of a flawed process that is designed to ensure the sale of Kensey Nash to Royal DSM on terms preferential to Royal DSM at the expense of NASDAQ:KNSY shareholders.