Law Firm Brower Piven Announces Investigation of Costa Inc. Proposed Buyout
STEVENSON, Md. -- November 11, 2013
The securities litigation firm of Brower Piven, A Professional Corporation,
has commenced an investigation into possible breaches of fiduciary duty to
current shareholders of Costa Inc. (“Costa” or the “Company”) (NasdaqGM: ATX)
and other violations of state law by the board of directors of Costa relating
to the proposed buyout of the Company by Essilor International S.A. The firm’s
investigation seeks to determine, among other things, whether the board of
directors of Costa breached their fiduciary duties by failing to maximize
According to the press release announcing the proposed buyout, Costa
shareholders will receive $21.50 per share in cash for each share of Costa
common stock they own. While that price represents an approximately 7% premium
over the closing price the day before the transaction was announced, according
to Yahoo! Finance, at least one analyst covering the Company has set a price
target of $29.00 per Costa share. Because Costa has a significant cash
position and because the true value of Costa’s positive third quarter 2013
financial results is possibly not reflected in the price of Costa’s stock
because of the timing of the announcement of the transaction, it is possible
that $21.50 per share is an insufficient amount to compensate shareholders for
the loss of the opportunity to benefit from the Company’s future growth.
If you currently own common stock of Costa and would like to learn more about
the investigation being conducted by Brower Piven, you may email or call
Brower Piven, who will, without obligation or cost to you, attempt to answer
your questions. You may contact Brower Piven by email at
firstname.lastname@example.org, by calling (410) 415-6616, or at Brower Piven, A
Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153.
Attorneys at Brower Piven have combined experience litigating securities and
other class action cases of over 60 years.
Brower Piven, A Professional Corporation
Charles J. Piven, 410-415-6616
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