SHAREHOLDER ALERT: Brower Piven Announces The Investigation Of Medical Action Industries Inc. In Connection With The Proposed Sale Of The Company To Owens & Minor, Inc.
STEVENSON, Md.--(BUSINESS WIRE)--The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by the board of directors of Medical Action Industries Inc. (“Medical Action” or the “Company”) (NasdaqGS: MDCI) relating to the proposed buyout of the Company by Owens & Minor, Inc. (“Owens & Minor”).
It was announced on June 25, 2014, that Medical Action and Owens & Minor have signed a definitive agreement under which Owens & Minor will acquire all outstanding shares of Medical Action in a merger valued at approximately $208 million. Under the terms of the transaction, shareholders of Medical Action would receive $13.80 in cash for each share of Medical Action they own.
The firm’s investigation seeks to determine, among other things, whether the Company’s board of directors breached their fiduciary duties by failing to maximize shareholder value before agreeing to enter into this transaction, and whether Owens & Minor is underpaying for Medical Action shares.
If you currently own common stock of Medical Action and would like to learn more about the investigation being conducted by Brower Piven, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentinvestigations.html. You may also request more information by contacting Brower Piven either by email at firstname.lastname@example.org or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s.