NEW YORK--(BUSINESS WIRE)--The Law Offices of Vincent Wong are investigating the Board of Directors of TomoTherapy Incorporated (“TomoTherapy” or the “Company”) (Nasdaq: TOMO) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the company to Accuray Incorporated (“Accuray”) (Nasdaq: ARAY). Under the terms of the deal, TomoTherapy stockholders will receive $3.15 in cash and 0.1648 shares of Accuray stock for every share of TomoTherapy they own which equals $4.80 per share, based on the prior closing price of Accuray stock. The transaction has a total value of approximately $277 million.
The investigation concerns whether the TomoTherapy Board of Directors breached their fiduciary duties to TomoTherapy stockholders by failing to adequately shop the Company before entering into this transaction and whether Accuray is underpaying for TomoTherapy shares. According to Thomson/First Call, at least one analyst set a price target of $5.00 per share for TomoTherapy stock.
If you own common stock in TomoTherapy and wish to obtain additional information, please contact Vincent Wong, Esq. either via email firstname.lastname@example.org, by telephone at 212.584.2740, or visit http://www.wongesq.com/tomotherapy.html.
Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.