On August 28, 2013, we commenced a class action in the Nevada state courts on behalf of public shareholders of Parametric Sound Corporation (“Parametric”) to enjoin its proposed merger, through its wholly owned subsidiary, Paris Acquisition Corp. with VTB Holdings, Inc. and its subsidiary Voyetra Turtle Beach, Inc., pursuant to an agreement and plan of merger dated August 5, 2013. The complaint alleges that the proposed merger constitutes a breach of the Defendants’ fiduciary duties of undivided loyalty, due care, good faith and candor owed to the public stockholders of Parametric.
To learn more about this litigation, and download a copy of the complaint, click here.