An investor in NASDAQ:VASC shares filed a lawsuit in effort to halt the proposed takeover of Vascular Solutions, Inc. by Teleflex Incorporated.
Investors who purchased shares of Vascular Solutions, Inc. (NASDAQ:VASC) and currently hold any of those NASDAQ:VASC shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:VASC stockholders by agreeing to sell Vascular Solutions, Inc. too cheaply via an unfair process to Teleflex Incorporated.
On December 2, 2016, Vascular Solutions, Inc. (Nasdaq: VASC) announced that it has entered into an agreement to be acquired by Teleflex Incorporated (NYSE: TFX) for a purchase price of $56.00 per share in cash.
However, plaintiff claims that the proposed consideration NASDAQ:VASC shareholders will receive is grossly inadequate and undervalues Vascular Solutions, Inc. In addition, the plaintiff alleges that the process is also unfair NASDAQ:VASC stockholders. The plaintiff claims that the defendants agreed to preclusive deal protection devices, such as a no solicitation and a $35 million termination fee provision, that are detrimental to NASDAQ:VASC shareholders as they deter other bidders from making a superior offer for Vascular Solutions, Inc.
Shares of Vascular Solutions, Inc. (NASDAQ:VASC) closed on February 17, 2017 at $56.00 per share.
Those who are current investors in NASDAQ:VASC shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com