We are investigating whether the directors of Intricon Corporation (Nasdaq: IIN) (“Intricon”) acted in the best interests of Intricon shareholders in approving the sale of Intricon to Altaris Capital Partners LLC (“Altaris”) for $24.25 per share in cash.
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Why is there an investigation?
On February 28, 2022, Intricon announced an agreement for Altaris to purchase all of the outstanding shares of Intricon for $24.25 per share in cash. The agreement has been approved by the Intricon board.
Our investigation concerns whether Intricon’s board acted in the best interests of Intricon shareholders in approving the sale to Altaris, including whether the acquisition price adequately compensates Intricon shareholders, and whether all material information regarding the transaction has been fully disclosed.
In particular, according to an analysis of Wall Street Intricon price targets in the last 90 days published on Seeking Alpha, Intricon has an average target price of $26.50 per share, which is above the acquisition price.