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:3/15/2016)... , March 15, 2016 ... report published by Transparency Market Research "Digital Door Lock Systems ... Forecast 2015 - 2023," the global digital door lock systems ... Mn in 2014 and is forecast to grow at a ... of micro, small and medium enterprises (MSMEs) across the world ...
(Date:3/11/2016)... Germany , March 11, 2016 http://www.apimages.com ... - Cross reference: Picture is available at AP Images ( http://www.apimages.com ... from DERMALOG will be used to produce the new refugee identity ... other biometric innovations, at CeBIT in Hanover ... scanner from DERMALOG will be used to produce the new refugee ...
(Date:3/9/2016)... NEW YORK , March 9, 2016 ... current and future states of the RNA Sequencing (RNA ... in segments such as instruments, tools and reagents, data ... Analyze various segments of the RNA-Sequencing market such ... RNA-Sequencing services Identify the main factors affecting each segment ...
Breaking Biology News(10 mins):
(Date:5/27/2016)... May 27, 2016 At present, the ... in this space know that volatility is what makes this ... on ActiveWallSt.com: Synta Pharmaceuticals Corp. (NASDAQ: SNTA ), ... (NASDAQ: LPTN ), and Heat Biologics Inc. (NASDAQ: ... to the technical alerts for these stocks at: ...
(Date:5/26/2016)... and READING, England , ... ( http://www.indegene.com ), a leading global provider of ... pharmaceutical and healthcare organisations and TranScrip ( http://www.transcrip-partners.com ... support throughout the product lifecycle, today announced the ... of IntraScience.      (Logo: http://photos.prnewswire.com/prnh/20141208/720248 ...
(Date:5/26/2016)... May 26, 2016 Despite the volatility ... in this space. Today,s pre-market research on ActiveWallSt.com directs the ... Inc. (NASDAQ: RDUS ), Cerus Corp. (NASDAQ: ... ), and Five Prime Therapeutics Inc. (NASDAQ: FPRX ... at: http://www.activewallst.com/ On Wednesday, ...
(Date:5/26/2016)... CA (PRWEB) , ... May 26, 2016 , ... ... and manufacturing company, today announced several positive developments that position the Company for ... a result of the transaction, Craig F. Kinghorn has been appointed Chairman of ...
Breaking Biology Technology: