SAN DIEGO, Oct. 23, 2017 /PRNewswire/ -- Shareholder rights
law firm Johnson Fistel, LLP has launched an investigation into
whether the board members of Exactech, Inc. (NASDAQ: EXAC)
("Exactech ") breached their fiduciary duties in connection with
the proposed sale of the Company to TPG Capital ("TPG"). Exactech
develops, manufactures, markets, distributes, and sells orthopedic
implant devices, related surgical instrumentation, and biologic
services.
On October 23, 2017, Exactech
announced that it had signed a definitive merger agreement with
TPG. Under the terms of the deal, TPG will pay $42.00 for each Exactech share, other than
certain shares owned by management stockholders. Exactech founders
Dr. Bill Petty and Betty Petty and CEO David Petty have agreed with TPG to vote all of
their shares in favor of the merger and to exchange a significant
portion of their shares for new shares in the parent entity
immediately following the merger. Upon completion of the
transaction, Exactech will be a privately-held company.
The investigation concerns whether the Exactech board failed to
satisfy its duties to the Company shareholders, including whether
the board adequately pursued alternatives to the acquisition and
whether the board obtained the best price possible for Exactech
shares of common stock. Nationally recognized Johnson Fistel investigation focuses on whether
the board of directors including the founders at Exactech is
undertaking a fair process to obtain maximum value that adequately
compensates its shareholders.
If you are a shareholder of Exactech and believe the proposed
buyout price is too low or you're interested in learning more about
the investigation or your legal rights and remedies, please contact
lead analyst Jim Baker
(jimb@johnsonfistel.com) at 619-814-4471. If emailing,
please include a phone number.
About Johnson Fistel,
LLP:
Johnson Fistel, LLP is a nationally
recognized shareholder rights law firm with offices in California, New
York and Georgia. The firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits. For more
information about the firm and its attorneys, please visit
http://www.johnsonfistel.com. Attorney advertising. Past results do
not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
View original
content:http://www.prnewswire.com/news-releases/exactech-exac-alert-johnson-fistel-investigates-proposed-sale-of-exactech-inc-is-42-a-fair-price-300541130.html
SOURCE Johnson Fistel, LLP