February 21, 2014 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of LCA-Vision Inc. (NASDAQ:LCAV) shares, was announced concerning whether the takeover of LCA-Vision Inc. by PhotoMedex, Inc for $5.37 per share is unfair to NASDAQ:LCAV stockholders.

The investigation by a law firm concerns whether certain officers and directors of LCA-Vision Inc. breached their fiduciary duties owed to LCANASDAQ:LCAV investors in connection with the proposed acquisition.

On February 13, 2014, PhotoMedex, Inc. (NasdaqGS and TASE: PHMD) and LCA-Vision, Inc. (NasdaqGS: LCAV) announced the signing of an agreement pursuant to which PhotoMedex will acquire LCA-Vision for $5.37 per share in cash, or approximately $106.4 million.

However, given that at least one analyst has set the high target price at $6.50 per share, the investigation concerns whether the offer is unfair to NASDAQ:LCAV stockholders. More specifically, the investigation concerns whether the LCA-Vision Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.

Shares of LCA-Vision Inc. (NASDAQ:LCAV) grew from $2.90 per share in December 2012 to as high as $4.33 per share on February 13, 2014.

On February 21, 2014, NASDAQ:LCAV shares closed at $5.50 per share.