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Solta Medical Inc (NASDAQ:SLTM) Investor Files Lawsuit Over Potential Wrongdoing In Buyout

  • If you purchased shares of Solta Medical Inc (NASDAQ:SLTM) and currently hold any of those NASDAQ:SLTM 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
Solta Medical Inc
Security
NASDAQ: SLTM

Case Name
Solta Medical Deal Case 12/31/2013
Type of Lawsuit
Mergers and Acquisition
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Summary

January 14, 2014 (Shareholders Foundation) - An investor, who currently hold shares of shares of Solta Medical Inc (NASDAQ:SLTM) filed a lawsuit in effort to halt the proposed takeover of Solta Medical Inc by Valeant Pharmaceuticals International for $2.92 per share.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:SLTM stockholders arising out of the attempt to sell Solta Medical Inc too cheaply via an unfair process to Valeant Pharmaceuticals International.

On December 16, 2013, Valeant Pharmaceuticals International, Inc. (NYSE: VRX and TSX: VRX) announced that it has entered into an agreement under which Valeant Pharmaceuticals International will acquire all of the outstanding common stock of Solta Medical Inc (NASDAQ:SLTM) for $2.92 per share in cash.

However, the plaintiff alleges that the $2.92-offer is too low and undervalues Solta Medical Inc. Indeed, at least one analyst has set the high target price for NASDAQ:SLTM shares at $4.00 per share.

Shares of Solta Medical Inc closed on Jan. 13, 2014, at $2.92 per share.