Shareholders are investigating possible breaches of fiduciary duty and other corporate violations by the board of directors of SenoRX Inc. (NASDAQ: SENO). The investigation arises from SenoRX’s entering into a merger agreement with CR Bard.
Under the terms of the buyout:
- SenoRX shareholders will receive $11 in cash for each share of SenoRX common stock they own;
- SenoRX agreed to pay a $9 million termination fee to CR Bard under certain conditions;
- SenoRX and CR Bard expect to close the merger in the third quarter of 2010.
Shareholders are investigating potential breaches of fiduciary duty and other violations concerning the transaction’s approval by SenoRX’s board of directors, and in particular whether SenoRX’s board undertook a fair and complete process to attain the highest value for SenoRX’s public shareholders.
If you are a SenoRX shareholder and wish to speak with us about your legal rights or are interested in participating in litigation concerning the SenoRX merger, please call us at 1-877-573-0007.