MERION, Pa., Jan. 14, 2016
/PRNewswire/ -- The Law Offices of Marc S. Henzel (www.henzellaw.com), a firm
focusing on shareholder litigation, gives notice to shareholders of
investigation into the following securities for violations of the
Federal Securities Laws:
Chipotle Mexican Grill, Inc. (NYSE: CMG)
2/4/15 thru 1/5/16
During the week of August 18, 2015,
approximately 100 customers and employees of a Chipotle restaurant
in Simi Valley, California became
ill. The Ventura County Environmental Health Division
reported on September 4, 2015, that
the illness was a norovirus outbreak.
Between August 19 and September 3,
2015, about 64 people became sick from a Minnesota
Chipotle. The Minnesota Department of Health reported on
September 17, 2015, that the illness
was salmonella, linked to tomatoes consumed at 22 Chipotle
locations.
Chipotle closed all of its restaurants in Portland, Oregon and Seattle, Washington, around November 1, 2015, following reports of
approximately 20 cases of E. coli by Chipotle patrons. Following
this news, Chipotle stock fell $16.23, or approximately 2.5%, to close at
$624.00 on November 2, 2015.
Esperion Therapeutics, Inc. (Nasdaq: ESPR)
8/18/15 thru 9/28/15
On August 17, 2015, Esperion reported
to investors material events from an early August 2015 meeting with the FDA regarding the
next phase of the approval process for ETC-1002. The Company stated
that during the meeting it was informed by the FDA that the Company
would not have to complete a CVOT to gain approval of ETC-1002.
Esperion also informed investors that it had a "'clear regulatory
path forward for development and approval of ETC-1002.'"
On September 28, 2015, Esperion
stated in a news release that the FDA had actually "encouraged the
Company to initiate a cardiovascular outcomes trial promptly" and
it may be necessary to have a completed CVOT prior to approval.
As a result, the price of Esperion stock fell almost 50% from
its previous close to $18.33 per
share on unusually high volume.
Fitbit Inc. (NYSE: FIT)
6/18/15 thru 1/6/16
The firm is investigating allegations that the heart rate
monitoring systems on the Company's Charge HR and Surge devices
were dangerously inaccurate and posed serious health risks to
users. The stock dropped on news of a consumer class-action lawsuit
being filed.
KLX Inc. (Nasdaq: KLXI)
3/9/15 thru 11/11/15
On November 12, 2015, before the
stock market opened, KLX announced preliminary financial results
for the quarter ended November 30,
2015. In the press release, the Company disclosed that
"[d]uring the third quarter of 2015, the Company performed an
interim asset impairment test." Based on that asset impairment
test, KLX stated, "the company expects to recognize a non-cash,
after-tax asset impairment charge of approximately $435 million related to its Energy Services
Group."
As a result of the news, the trading price of KLX's common stock
plunged from a closing price of $39.00 on November 11,
2015 to close at $32.11 on
November 12, 2015, a single-day loss
of approximately 16%.
Affymetrix Inc. (NASDAQ: AFFX) (Nasdaq: AFFX)
1/11/16
Under the terms of the agreement, shareholders of Affymetrix
Inc. will receive $14.00 in cash
per share. The transaction represents a purchase price of
approximately $1.3 billion. The
investigation is focused on whether Affymetrix's Board of Directors
is acting in the shareholders' best interests, whether the board
considered alternatives to the acquisition, and whether the board
has employed an adequate process to review and act on the proposed
transaction.
Blount International, Inc. (NYSE: BLT)
1/12/16
Under the terms of the agreement, shareholders of Blount will
receive $10.00 in cash for each share
of Blount common stock. The investigation concerns whether
Blount board of directors failed to adequately shop the Company and
obtain the best possible value for Blount shareholders before
entering into an agreement with American Securities and P2 Capital
Partners.
Baxalta Incorporated (Nasdaq: BXLT)
1/12/16
Under the terms of the agreement, Shire agreed to pay $18 in cash plus 0.1482 of its American
depository shares for each Baxalta share, making this one of the
few ever cash-and-stock deals involving a recent tax-free spinoff.
The deal terms imply a valuation of $47.50 per share based on Shire's average share
price over the past 30 trading days, the drug companies said, and a
valuation of $45.57 based on Shire's
closing price on 1/8/16.
If you would like to learn more about the investigation of these
companies, would like to learn more about any potential claims or
you wish to discuss these matters and have any questions concerning
this announcement or your rights, please contact Marc S. Henzel (610) 660-8000, email at
Mhenzel@Henzellaw.com, or to sign up online, visit the firm's
website at www.henzellaw.com.
The Law Offices of Marc S. Henzel
is a national shareholder litigation firm representing shareholders
& investors in various areas of securities laws including but
not limited to: class actions, derivatives, transactional
(buyouts/takeovers/mergers) and FINRA & NYSE Arbitrations.
Contact:
Law Offices of Marc S. Henzel
Marc S. Henzel
Email: Mhenzel@Henzellaw.com
Phone 610-660-8000
Website: www.henzellaw.com
LAW OFFICES OF MARC S. HENZEL
MERION STATION, PA 19066
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SOURCE Law Offices of Marc S.
Henzel