IntegraMed America, Inc.
Robbins Umeda LLP Announces an Investigation of IntegraMed America, Inc.
Robbins Umeda LLP has commenced an investigation into possible breaches of fiduciary duty and other violations of the law by members of the board of directors of IntegraMed America, Inc. (NASDAQ: INMD) in connection with their efforts to sell the company to affiliates of Sagard Capital Partners, L.P. Concerned shareholders who would like more information about their rights and potential remedies can complete the form below and we will contact you directly. You can also contact attorney Gregory E. Del Gaizo at (800) 350-6003.
On June 11, 2012, IntegraMed announced that it had entered into a definitive merger agreement to be acquired by Sagard Capital through an all-cash transaction. Pursuant to the agreement, IntegraMed shareholders will receive $14.05 in cash for each share of the company they own. The transaction is expected to close no later than mid-November 2012.
Robbins Umeda LLP’s investigation focuses on whether the Board of Directors at IntegraMed is undertaking a fair process to obtain maximum value and adequately compensate shareholders in light of the company’s recent positive financial results. On May 3, 2012, IntegraMed reported strong operating results for the first quarter of fiscal year 2012. The company reported revenue of $70.8 million, a 10.1% increase over the $64.3 million in revenue reported during the same quarter of the previous year. Additionally, IntegraMed reported diluted EPS of $0.11 for the first quarter of 2012, a 37.5% increase over diluted EPS of just $0.08 reported during the first quarter of fiscal year 2011. In the words of Tim Sheehan, Chief Financial Officer of IntegraMed, “Overall, our business model is working very well, and we have sufficient financial liquidity to pursue growth opportunities that would further enhance our performance.”
Furthermore, several market analysts have released target prices for IntegraMed’s common stock between $15.50 and $17.00 per share, considerably higher than the value currently being offered to shareholders by Sagard Capital as part of the proposed transaction. Given these target prices and the company’s impressive financial results, Robbins Umeda LLP is examining the board’s decision to sell IntegraMed now at $14.05 per share rather than allow shareholders to continue to participate in the company’s continued success and future growth prospects.
Robbins Umeda LLP attorneys highlight that IntegraMed shareholders have the option to file a class action lawsuit against the company to secure the best possible price for the company’s shareholders and the disclosure of material information to shareholders so they can vote on the transaction in an informed manner.
Robbins Umeda 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.