Vital Images, Inc.
Robbins Umeda LLP Is Investigating Vital Images, Inc. Acquisition for Shareholders
Robbins Umeda LLP, a shareholder rights litigation firm, is interested in helping shareholders of Vital Images, Inc. (NASDAQ: VTAL). The firm has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by members of the board of directors of Vital Images in connection with their efforts to sell Vital Images to a subsidiary of Toshiba Medical Systems Corporation.
On April 28, 2011, Toshiba and Vital Images announced that they have entered into a definitive agreement pursuant to which a subsidiary of Toshiba will acquire all outstanding shares of Vital Images common stock for $18.75 per share through a cash tender offer followed by a merger. It is anticipated that Toshiba’s subsidiary will commence a tender offer for all of the outstanding shares of Vital Images by May 11, 2011. The transaction is expected to close in the second or third quarter of 2011. The investigation focuses on whether Vital Images’ board is undertaking a fair process to obtain maximum value for its shareholders. Notably, in February 2011, Vital Images reported fourth quarter 2010 results that beat analyst expectations. Thereafter, at least one analyst raised its price target for Vital Images to $19.00.
If you own stock in Vital Images and would like more information about your shareholder rights, please complete the form below and we will contact you directly. We also welcome you to call us at 800-350-6003.