Faruqi & Faruqi, LLP Announces Shareholder Investigation Related to the Acquisition of Orthovita, Inc. (VITA)
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Orthovita, Inc. (“Orthovita” or the “Company”) (NasdaqGM: VITA) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Stryker Corp. (NYSE: SYK) for about $304 million in cash. The proposed transaction offers Orthovita shareholders $3.85 per share. According to Yahoo! Finance, at least one financial analyst has a price target of $4 for Orthovita.
Whether the Orthovita’s Board of Directors breached their fiduciary duties to Orthovita’s stockholders by failing to conduct an adequate and fair sales process to sell the Company prior to agreeing to this proposed transaction, whether the proposed transaction undervalues Orthovita’s shares and by how much this proposed transaction undervalues the Company to the detriment of Orthovita shareholders are the key focus of this investigation.
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Faruqi & Faruqi, LLP
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