BioMimetic Therapeutics Investor Alert: Briscoe Law Firm and Powers Taylor,
LLP Investigate Sale to Wright Medical Group
DALLAS -- November 20, 2012
Former United States Securities and Exchange Commission attorney Willie
Briscoe and the securities litigation firm of Powers Taylor, LLP are
investigating the sale of BioMimetic Therapeutics, Inc. (“BioMimetic”)
(NasdaqGS: BMTI) to Wright Medical Group, Inc. for shareholders. Under the
proposed deal valued at approximately $380 million, BioMimetic shareholders
will only receive an initial payment of $1.50 in cash and 0.2482 shares of
Wright common stock for each share of BioMimetic stock owned. Shareholders
will also receive one tradable Contingent Value Right (“CVR”), which entitles
the holder to receive additional cash payments of up to $6.50 per share upon
certain milestones. Based upon the Friday’s closing, the upfront payment is
valued at approximately $6.47, well below at least one analyst’s estimated
value of $7.50 per share.
If you are an affected investor, and you want to learn more about the lawsuit
or join the action, contact Patrick Powers at Powers Taylor, LLP, toll free
(877) 728-9607, via e-mail at firstname.lastname@example.org, or Willie Briscoe at
The Briscoe Law Firm, PLLC, (214) 706-9314, or via email at
WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.
The BioMimetic sale investigation centers on whether BioMimetic’s shareholders
are receiving adequate compensation for their shares in the buyout, whether
the transaction undervalues BioMimetic’s stock, and whether BioMimetics’ board
attempted to obtain the highest share price for all shareholders prior to
agreeing to the deal. According to an analyst with Yahoo! Finance, the true
inherent value of BioMimetic could be as high as $7.50 per share. Shareholder
rights attorney Patrick Powers stated that “we believe that this transaction
may undervalue BioMimetic’s stock. Thus, our proposed lawsuit will seek to
obtain the highest share price for all shareholders.”
The Briscoe Law Firm, PLLC is a full service business litigation and
shareholder rights advocacy firm with more than 20 years of experience in
complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that handles a variety of
complex business litigation matters, including claims of investor and
stockholder fraud, shareholder oppression, shareholder derivative suits, and
security class actions.
Powers Taylor, LLP
Patrick Powers, 877-728-9607
The Briscoe Law Firm, PLLC
Willie Briscoe, 214-706-9314
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