An investigation was announced for investors in Zeltiq Aesthetics Inc over the buyout of Zeltiq Aesthetics Inc by Allergan plc for $56.50 per share.
Investors who purchased shares of Zeltiq Aesthetics Inc (NASDAQ:ZLTQ) and currently hold any of those NASDAQ:ZLTQ shares have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 – 1554.
The investigation by a law firm concerns whether certain officers and directors of Zeltiq Aesthetics Inc breached their fiduciary duties owed to NASDAQ:ZLTQ investors in connection with the proposed acquisition.
On February 13, 2017, Allergan plc (NYSE:AGN) and ZELTIQ Aesthetics, Inc. (NASDAQ:ZLTQ) announced that they have entered into an agreement under which Allergan has agreed to acquire ZELTIQ for $56.50 per share, or $2.475 billion, subject to customary adjustments.
However, the investigation concerns whether the offer is unfair to NASDAQ:ZLTQ stockholders. More specifically, the investigation concerns whether the Zeltiq Aesthetics 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.
Zeltiq Aesthetics Inc reported that its annual Total Revenue rose from $174.48 million in 2014 to $255.42 million in 2015 and that its Net Income grew from $1.53 million in 2014 to $41.80 million in 2015.
Shares of Zeltiq Aesthetics Inc (NASDAQ:ZLTQ) grew from $19.26 per share in February 2016 to as high as $51.97 per share on February 10, 2017.
On March 2, 2017, NASDAQ:ZLTQ shares closed at $55.548 per share.
Those who are current investors in NASDAQ:ZLTQ shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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