Physicians Formula Holdings Update: Briscoe Law Firm and Powers Taylor, LLP Investigate Receipt of New Buyout Offer
September 06 2012 - 5:22PM
Business Wire
Former United States Securities and Exchange Commission attorney
Willie Briscoe and the securities litigation firm of Powers Taylor,
LLP are continuing their investigation into the sale of Physicians
Formula Holdings, Inc. (“Physicians Formula”) (NASDAQ: FACE) to
Swander Pace Capital for shareholders. On August 15, 2012, Swander
Pace agreed to purchase Physicians Formula in a deal valued at
approximately $65 million, whereby shareholders would receive $4.25
in cash for each share of Physicians Formula stock owned. However,
Physicians Formula announced that it has received a higher
unsolicited proposal to acquire all outstanding shares of FACE for
$4.90 per share, or $0.65 higher than Swander’s offer. Despite this
new offer, Physicians Formula has not changed its recommendation to
shareholders.
There is no cost or fee to you, so if you are an affected
investor, and you want to learn more about the lawsuit or join the
action, contact Patrick Powers at Powers Taylor, LLP, toll free
(877) 728-9607, via e-mail at patrick@powerstaylor.com, or Willie
Briscoe at The Briscoe Law Firm, PLLC, (214) 706-9314, or via email
at WBriscoe@TheBriscoeLawFirm.com.
According to shareholder rights attorney, Willie Briscoe,
“Considering that Physicians Formula has received a higher
acquisition proposal, the investigation centers on whether the
board of directors is adequately considering the deal and
attempting to obtain the highest share price for all
shareholders.”
The Briscoe Law Firm, PLLC is a full service business litigation
and shareholder rights advocacy firm with more than 20 years of
experience in complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that
handles a variety of complex business litigation matters, including
claims of investor and stockholder fraud, shareholder oppression,
shareholder derivative suits, and security class actions.
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