Rigrodsky & Long, P.A. Announces Investigations Against InfoLogix Inc.By Avik, Gaea News Network
Wednesday, December 22, 2010
WILMINGTON (GaeaTimes.com)–Rigrodsky & Long, P.A. announces that it is investigating potential claims against the board of directors of InfoLogix, Inc. (”InfoLogix” or the “Company”) (OTCQB: IFLG.PK) concerning possible breaches of fiduciary duty and other violations of law related to the Company’s entry into an agreement to be acquired by Stanley Black & Decker, Inc. (NYSE: SWK) (”Stanley”) in a cash transaction valued at approximately $61.2 million, including the assumption of debt. Click here to learn how to join the action: http://www.rigrodskylong.com/news/InfoLogixInc-IFLG.
Under the proposed agreement, Stanley will acquire all of the outstanding common shares of InfoLogix for $4.75 per share in cash. In addition, InfoLogix’s majority and controlling shareholder, Hercules Technology Growth Capital, Inc., has agreed to vote its shares in favor of the deal.
The investigation concerns whether the InfoLogix board of directors failed to adequately shop the Company and obtain the best price possible for InfoLogix shareholders before entering into the agreement with Stanley.
If you own the common stock of InfoLogix and purchased your shares before December 15, 2010, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth D. Rigrodsky, Esquire or Noah R. Wortman, Case Development Director, of Rigrodsky & Long, P.A., 919 N. Market Street, Suite 980, Wilmington, Delaware, by telephone at (888) 969-4242, or by e-mail to firstname.lastname@example.org.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.