BioMimetic Therapeutics, Inc. (BMTI)

[fredman]

BioMimetic Investor Says $380M Buyout Deal Doesn't Cut It

By Jamie Santo

Wilmington (November 26, 2012, 9:43 PM ET) -- A BioMimetic Therapeutics Inc. investor launched a putative class action Wednesday protesting the orthopedic therapy company's planned $380 million buyout by Wright Medical Technology Inc., claiming the deal greatly undervalues a company on the verge of a major breakthrough.

Filed by shareholder Menachem Maiman in Delaware court, the complaint alleges that BioMimetic's board breached its fiduciary duty by attempting to sell the orthopedic and sports-medicine therapy company “by means of an unfair process and for an unfair price.”

The proposed deal would shortchange shareholders because it...

Source: http://www.law360.com/articles/396225/biomimetic-investor-says-380m-buyout-deal-doesn-t-cut-it