We are investigating the proposed merger of Parametric Sound Corporation (Parametric) (NASDAQ: PAMT) and VTB Holdings, Inc. (Turtle Beach).
On August 5, 2013, Parametric and Turtle Beach announced they had entered into an agreement to merge in a stock for stock transaction. Under the terms of the agreement, former Turtle Beach stockholders are expected to own approximately 80 percent of the combined company’s shares, and Parametric stockholders are expected to own approximately 20 percent of the combined company’s shares.
Our investigation concerns the fairness of the transaction from the standpoint of Parametric shareholders, and whether the board of directors of Parametric breached their fiduciary duties to Parametric shareholders in approving the transaction.
Indeed, since the announcement of the transaction, PAMT stock has declined by over 20% to close at $14/share on August 6, 2013.
Persons with relevant information, and Parametric shareholders with questions about this investigation, are invited to contact us by using the form below.
A Form 8-K regarding the terms of the proposed merger, filed by Parametric with the Securities & Exchange Commission, can be downloaded using the link on the right.