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| [March 19, 2013] |
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Law Firm Kirby McInerney LLP Investigating Potential Claims on Palomar Medical Technologies, Inc. Shareholders
NEW YORK --(Business Wire)--
Kirby McInerney LLP is investigating potential claims against the Board
of Directors of Palomar Medical Technologies, Inc. ("Palomar" or the
"Company") (NASDAQ: PMTI) related to the proposed acquisition of the
Company by Cynosure, Inc. (NASDAQ: CYNO) ("Cynosure"). Under the terms
of the agreement, Cynosure will acquire PMTI in a cash and stock
transaction pursuant to which shareholders will receive $6.825 per share
in cash and $6.825 per share in Cynosure common stock, valuing the
transaction at approximately $294 million.
The investigation concerns whether the Palomar Board of Directors
violated its fiduciary duties by agreeing to this transactionand
whether the proposed per-share consideration adequately values Palomar
shares. The combined acquisition price of $13.65 represents a premium of
only 23% above the average closing price of Palomar shares since
February 7, 2013, when the Company announced its 2012 year-end results.
If you are a Palomar shareholder and wish to obtain additional
information, please contact J. Brandon Walker, Esq. by email at bwalker@kmllp.com,
by telephone at (212) 699-1145 or (888) 529-4787, or by filling
out this contact form.
Kirby McInerney LLP is a New York-based law firm concentrating in
securities, shareholder, whistleblower, antitrust and consumer
litigation. For additional information, please go to www.kmllp.com

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