NEW YORK, April 29, 2013 (GLOBE NEWSWIRE) -- WeissLaw LLP, a national class action, shareholder rights law firm with offices in New York and Los Angeles, is examining possible breaches of fiduciary duty and other violations of law by the Board of Directors of Conceptus, Inc. ("CPTS" or the "Company") for agreeing to sell CPTS to Bayer Healthcare LLC ("Bayer") in a transaction valued at approximately $1.1 billion. Under the terms of the agreement, CPTS shareholders will receive $31.00 in cash for each share of CPTS common stock. The deal is structured as a tender offer, which may avoid the need for a shareholder vote.
WeissLaw LLP is investigating whether CPTS' Board acted to maximize shareholder value prior to entering into the agreement with Bayer. Notably, CPTS' recent earnings for the first quarter of 2013 reflect a 21.7% increase in sales and a 17.5% increase in revenue over the prior year period. Further, CPTS reported a net income of $1.9 million, or $0.05 per fully diluted share for the first quarter of 2013, compared to a net loss of $2.8 million, or ($0.09) per share, for the first quarter of 2012. If you own CPTS shares and would like more information about your rights or our investigation, please contact Joshua Rubin or Kelly Keenan either by telephone at (888) 593-4771 or by email at stockinfo@weisslawllp.com.
The firm is also investigating actions on behalf of shareholders for the following companies: Exide Technologies, MPG Office Trust, Inc., Buckeye Technologies Inc., Met-Pro Corporation, National Financial Partners Corp. and Power-One Inc.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at stockinfo@weisslawllp.com or fill out the form on our website, http://www.weisslawllp.com/contact/report_fraud/.
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