An investigation on behalf of investors of Avedro, Inc. (NASDAQ: AVDR) in connection with the proposed takeover was announced.
San Diego, CA -- (SBWIRE) -- 08/12/2019 -- An investigation was announced concerning whether the takeover of Avedro, Inc. is unfair to NASDAQ: AVDR stockholders.
Investors who purchased shares of Avedro, Inc. (NASDAQ: AVDR) and currently hold any of those NASDAQ: AVDR shares have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Avedro, Inc. breached their fiduciary duties owed to NASDAQ: AVDR investors in connection with the proposed acquisition.
Waltham, MA based Avedro, Inc., an ophthalmic pharmaceutical and medical device company, develops and commercializes products to treat ophthalmic disorders and conditions, primarily associated with corneal weakness. On Aug. 7, 2019, Glaukos Corporation (NYSE: GKOS) and Avedro, Inc. (Nasdaq: AVDR) announced that the companies have entered into a definitive merger agreement under which Glaukos will acquire Avedro in an all-stock transaction. Under the terms of the merger agreement, for each share of Avedro common stock they own, Avedro shareholders will receive an exchange ratio equivalent of 0.365 shares of Glaukos stock, or a value of approximately $27.85 per share.
However, given that Certain shareholders of Avedro, including OrbiMed, HealthQuest and LAV Agile, which collectively own approximately 41% of the outstanding shares of Avedro common stock, have already entered into voting agreements to vote in favor of the transaction, the investigation concerns whether the offer is unfair to NASDAQ: AVDR stockholders. More specifically, the investigation concerns whether the Avedro Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
Avedro, Inc. reported that its annual Total Revenue rose from $20.15 million in 2017 to $27.67 million in 2018
On August 9, 2019, NASDAQ: AVDR shares closed at $23.07 per share.
Those who are current investors in Avedro, Inc. (NASDAQ: AVDR) shares have certain options and should contact the Shareholders Foundation.
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