Kensey Nash Corporation
Robbins Umeda LLP Announces an Investigation of Kensey Nash Corporation
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 Kensey Nash Corporation (NASDAQ: KNSY) in connection with their efforts to sell the company to Royal DSM (NYSE Euronext: DSM KON). 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 May 3, 2012, Kensey Nash announced that it had entered into a definitive merger agreement to be acquired by Royal DSM. According to the terms of the deal, Royal DSM will acquire all outstanding shares of the company through a cash tender offer. Pursuant to the agreement, Kensey Nash shareholders will receive $38.50 in cash for each share of the company they own. The tender offer is expected to be completed by June 30, 2012.
Robbins Umeda LLP’s investigation focuses on whether Kensey Nash’s board is undertaking a fair process to obtain maximum value and adequately compensate shareholders in light of the company’s positive recent financial results. Specifically, on May 3, 2012, Kensey Nash reported strong operating results for the third quarter of fiscal year 2012 that beat analyst expectations. The company reported revenue of $22.2 million for the quarter, a 19% increase over the $18.6 million in revenue reported during the same quarter in the previous year. Additionally, the company reported that net sales for the quarter were $16.1 million, a 33% increase over the $12.1 million in net sales reported during the third quarter of fiscal year 2011.
Given the company’s impressive financial results, Robbins Umeda LLP is examining the board’s decision to sell Kensey Nash now rather than allow shareholders to continue to participate in the company’s continued success and future growth prospects.
Robbins Umeda LLP attorneys highlight that Kensey Nash 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.