Acquisition of Parametric Sound Corporation May Not Be in the Best Interests of Parametric Shareholders

 Acquisition of Parametric Sound Corporation May Not Be in the Best Interests
                          of Parametric Shareholders

PR Newswire

SAN DIEGO and POWAY, Calif., Aug. 9, 2013

SAN DIEGO andPOWAY, Calif., Aug. 9, 2013 /PRNewswire/ --Shareholder rights
attorneys at Robbins Arroyo LLP are investigating the proposed merger between
Parametric Sound Corporation (NASDAQ: PAMT) ("Parametric Sound") and VTB
Holdings, Inc. ("Turtle Beach"). On August 5, 2013, the two companies
announced a definitive agreement to merge in a stock for stock transaction.
The transaction is expected to close before the end of the calendar year. 

(Logo: http://photos.prnewswire.com/prnh/20130103/MM36754LOGO)

Is the Merger Best for Parametric Sound Shareholders?

Robbins Arroyo's investigation focuses on whether the board of directors at
Parametric Sound is undertaking a fair process to obtain maximum value and
adequately compensate its shareholders in the merger. According to the terms
of the agreement, Parametric Sound shareholders will receive 20% of the common
stock of the combined company and Turtle Beach shareholders will receive 80%
of the outstanding shares. Further, a condition of the deal requires
Parametric Sound to raise at least $5 million in additional debt or equity
prior to the closing of the transaction. In addition, $12 million of
non-convertible preferred stock of Turtle Beach will remain outstanding, plus
dividends accrued. On news of the merger, Parametric Sound's stock declined
nearly 21%, or $3.69 per share, to close at $14.00 per share.

Given these facts, Robbins Arroyo is examining whether Parametric Sound's
board of directors breached their fiduciary duties to shareholders in agreeing
to be acquired by Turtle Beach.

Parametric Sound shareholders have the option to file a class action lawsuit
to secure the best possible price for shareholders and the disclosure of
material information to shareholders. Parametric Sound shareholders
interested in information about their rights and potential remedies can
contact attorney Darnell R. Donahue at (800) 350-6003,
ddonahue@robbinsarroyo.com, or via the shareholder information form on the
firm's website.

Robbins Arroyo LLP is a nationally recognized leader in securities litigation
and shareholder rights law. The firm represents individual and institutional
investors in shareholder derivative and securities class action lawsuits, and
has helped its clients realize more than $1 billion of value for themselves
and the companies in which they have invested. For more information, please
go to http://www.robbinsarroyo.com.

Press release link:
http://www.robbinsarroyo.com/shareholders-rights-blog/parametric-sound/

Attorney Advertising.Past results do not guarantee a similar outcome.

Contact:
Darnell R. Donahue
Robbins Arroyo LLP
ddonahue@robbinsarroyo.com
(619) 525-3990 or Toll Free (800) 350-6003
www.robbinsarroyo.com

SOURCE Robbins Arroyo LLP

Website: http://www.robbinsarroyo.com
 
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