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, firstname.lastname@example.org, 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 email@example.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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Acquisition of Parametric Sound Corporation May Not Be in the Best Interests of Parametric Shareholders
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