NEW YORK, Aug. 10, 2009 (GLOBE NEWSWIRE) -- Tripp Levy PLLC announces an investigation into the proposed acquisition of MTS Medication Technologies, Inc. (Nasdaq:MTSI). On August 8, 2009, an affiliate of Excellere Partners, LLC announced that it and MTSI had entered into a definitive merger agreement pursuant to which MTSI shareholders would receive $5.75 per share. This price per share represents virtually no premium over the closing stock of the MTSI ($5.70) just prior to the announcement. In addition, unlike the public shareholders of MTSI, the CEO and President of MTSI, and certain other members of the senior management team who collectively own approx. 30% of MTSI shares will exchange their holdings of MTSI for cash and shares of the newly formed company.
The investigation concerns whether the consideration to be paid to MTSI shareholders is grossly unfair, inadequate, and substantially below the fair or inherent value of MTSI. The investigation further concerns whether the directors of MTSI, including any special committee members, may have breached their fiduciary duties by not acting in MTSI shareholders' best interests in connection with the sale process of MTSI.
If you are a current holder of MTSI and would like additional information concerning this proposed transaction, including your rights, please feel free to contact us at the information below.