Matrixx Initiatives Inc. (MTXX)

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Rigrodsky & Long, P.A. Investigates Matrixx Initiatives Inc.

BuyoutLast update: 12/14/2010 10:13:00 AMWILMINGTON, Del., Dec 14, 2010 (BUSINESS WIRE) -- Rigrodsky & Long, P.A. announces that it is investigating potential claims against the board of directors of Matrixx Initiatives Inc. ("Matrixx Initiatives" or the "Company") (MTXX) concerning possible breaches of fiduciary duty and other violations of law related to the Company's entry into an agreement to be acquired and taken private by investment funds managed by H.I.G. Capital, LLC ("H.I.G.") in a cash transaction valued at approximately $75.2 million. Click here to learn how to join the action: . Under the proposed agreement, affiliates of H.I.G. will commence a tender offer to purchase for cash all of the outstanding shares of Matrixx Initiatives common stock, and the associated preferred stock purchase rights, at a price of $8.00 per share (the "Tender Offer"). The Tender Offer is expected to commence on December 22, 2010 and to expire on the 20th business day following and including the commencement date, unless extended in accordance with the terms of the merger agreement. If the Tender Offer is successfully completed, the parties will complete a second--step merger in which any remaining shares of Matrixx Initiatives would be converted into the right to receive the same price per share paid in the Tender Offer. The investigation concerns whether Matrixx Initiatives' board of directors failed to adequately shop the Company and obtain the best price possible for Matrixx Initiatives' shareholders before entering into the agreement with H.I.G. Indeed, according to Yahoo! Finance, at least one analyst has set a price target of $8.50 per share for Matrixx Initiatives stock. If you own the common stock of Matrixx Initiatives and purchased your shares before December 14, 2010, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth D. Rigrodsky, Esquire or Noah R. Wortman, Case Development Director, of Rigrodsky & Long, P.A., 919 N. Market Street, Suite 980, Wilmington, Delaware, by telephone at [phone], or by e-mail to [e-mail]. Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States. Attorney advertising. Prior results do not guarantee a similar outcome.