Navigation Links
Acquisition of BioClinica, Inc. by JLL Partners, Inc. May Not Be in BioClinica, Inc. Shareholders' Best Interests
Date:1/31/2013

SAN DIEGO and NEWTOWN, Pa., Jan. 31, 2013 /PRNewswire/ -- Shareholder rights attorneys at Robbins Arroyo LLP are investigating the acquisition of BioClinica, Inc. (NASDAQ: BIOC) by JLL Partners, Inc.  BioClinica provides clinical trial solutions to pharmaceutical, biotechnology, and medical device companies.

(Logo: http://photos.prnewswire.com/prnh/20130103/MM36754LOGO)

On January 30, 2013, BioClinica announced that it had entered into a definitive merger agreement to be acquired by a holding company controlled by JLL Partners.  Pursuant to the agreement, BioClinica's shareholders will receive $7.25 in cash for each share of common stock.  The transaction has been approved by the board of directors of BioClinica.  Additionally, BioClinica's current President and CEO, Mark L. Weinstein , will lead the new company.  

The Board of Directors' Actions May Prevent BioClinica Shareholders from Receiving the Maximum Value for Their Stock

Robbins Arroyo LLP's investigation focuses on whether the board of directors at BioClinica is undertaking a fair process to obtain maximum value and adequately compensate its shareholders or seeking to benefit themselves.  The $7.25 per share offer price is substantially below the $9 target price set by an analyst at Benchmark Company on November 9, 2012. 

Further, on November 8, 2012, BioClinica reported financial results for the third quarter ended September 30, 2012, reflecting record service revenues and a strong increase in Non-GAPP operating income over the same period for the prior year.  Specifically, the company reported service revenues of $19.2 million for the quarter, an increase of 16% compared to the same period in 2011.  In addition, Non-GAAP operating income increased 26%, from $2 million to $2.6 million, over the same period the previous year.  Moreover, BioClinica's President and CEO Mark Weinstein , announcing the company's third quarter results, concluded that "[o]ur backlog and strong proposal pipeline position us well for future growth."      

Given these facts, the firm is examining the board of directors' decision to sell BioClinica now rather than allow shareholders to continue to participate in the company's continued success and future growth prospects.   

BioClinica shareholders have the option to file a class action lawsuit against the company to secure the best possible price for shareholders and the disclosure of material information so shareholders can vote on the transaction in an informed manner. BioClinica shareholders interested in information about their rights and potential remedies can contact Darnell R. Donahue at (800) 350-6003, ddonahue@robbinsarroyo.com, or via the shareholder information form on the firm's website.

Robbins Arroyo LLP is a nationally recognized leader in securities litigation and shareholder rights law.  The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.  For more information, please go to http://www.robbinsarroyo.com.

Press release link: http://www.robbinsarroyo.com/shareholders-rights-blog/bioclinica/

Attorney Advertising. Past results do not guarantee a similar outcome.  

Contact:
Darnell R. Donahue
Robbins Arroyo LLP  
ddonahue@robbinsarroyo.com  
(619) 525-3990 or Toll Free (800) 350-6003  
www.robbinsarroyo.com

 


'/>"/>
SOURCE Robbins Arroyo LLP
Copyright©2012 PR Newswire.
All rights reserved

Related biology news :

1. Modern Mobility Aids, Inc. Announces a Revised Agreement for the Acquisition of Lumigene
2. Medbox Communicates with Shareholders, Comments on Pending Transition to OTC Bulletin Board, and Announces Appearance on Fox Business News Channel
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:4/11/2017)... Research and Markets has announced the addition ... their offering. ... tracking market to grow at a CAGR of 30.37% during the ... 2017-2021, has been prepared based on an in-depth market analysis with ... its growth prospects over the coming years. The report also includes ...
(Date:4/6/2017)... LONDON , April 6, 2017 ... Control, RFID, ANPR, Document Readers, by End-Use (Transportation & ... Energy Facility, Oil, Gas & Fossil Generation Facility, Nuclear ... Healthcare, Educational, Other) Are you looking for ... Authentication sector? ...
(Date:4/5/2017)... , April 4, 2017 KEY FINDINGS ... anticipated to expand at a CAGR of 25.76% during ... diseases is the primary factor for the growth of ... report: https://www.reportbuyer.com/product/4807905/ MARKET INSIGHTS The global ... product, technology, application, and geography. The stem cell market ...
Breaking Biology News(10 mins):
(Date:10/11/2017)... , ... October 11, 2017 , ... ... announced today it will be hosting a Webinar titled, “Pathology is going digital. ... Associates , on digital pathology adoption best practices and how Proscia improves lab ...
(Date:10/11/2017)... Netherlands and LAGUNA HILLS, Calif. ... Institute of Cancer Research, London (ICR) ... MMprofilerâ„¢ with SKY92, SkylineDx,s prognostic tool to risk-stratify patients with ... known as MUK nine . The University of ... which is partly funded by Myeloma UK, and ICR will ...
(Date:10/11/2017)... ... October 11, 2017 , ... A new study published ... frozen and fresh in vitro fertilization (IVF) transfer cycles. The multi-center ... success. , After comparing the results from the fresh and frozen transfer cohorts, ...
(Date:10/10/2017)... ... October 10, 2017 , ... San Diego-based team building ... corporate rebranding initiative announced today. The bold new look is part of a ... company moves into a significant growth period. , It will also expand its service ...
Breaking Biology Technology: