Stratasys, Inc. : The Law Firm of Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of Stratasys, Inc. in Connection with the Sale of the Company to Objet Ltd.
06/14/2012| 11:35am US/Eastern
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NEW YORK, June 14, 2012 /PRNewswire/ -- Levi & Korsinsky is investigating the Board of Directors of Stratasys, Inc. ("Stratasys" or the "Company") (Nasdaq: SSYS) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Objet Ltd.
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Under the terms of the transaction, Stratasys stockholders will receive one Objet ordinary share for each share of Stratasys common stock they own, and Objet will change its name to Stratasys Ltd. Upon closing of the transaction, Stratasys stockholders are expected to own 55% and Objet stockholders are expected to own 45% of the combined company. The transaction has a combined equity value of approximately $1.4 billion, based upon the closing price of Stratasys' common stock on April 13, 2012. The investigation concerns whether the Stratasys Board of Directors breached their fiduciary duties to Stratasys stockholders by failing to adequately shop the Company before entering into this transaction and whether the proposed transaction fairly values Stratasys shares.
If you own common stock in Stratasys and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or http://zlk.9nl.com/SSYS.
Levi & Korsinsky is a national firm with offices in New York and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major securities lawsuits and have successfully recovered multimillion-dollar damages awards on behalf of investors. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com
SOURCE Levi & Korsinsky, LLP
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