NEW YORK, Aug. 10, 2009 (GLOBE NEWSWIRE) -- Levi & Korsinsky ("L&K") is investigating the Board of Directors of MTS Medication Technologies, Inc. ("MTS Medication" or the "Company") (Nasdaq:MTSI) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to an affiliate of Excellere Partners, LLC, a private equity firm. Under the terms of the agreement, MTS Medication shareholders will receive $5.75 in cash for each share of MTS Medication they own.
The investigation concerns whether the MTS Medication Board of Directors breached their fiduciary duties to MTS Medication shareholders given that the Company's shares traded at $6.24 as recently as June 17, 2009 and at least one analyst set a price target for MTS Medication stock at $8.25 per share.
The companies expect to consummate the transaction in the fourth quarter, subject to customary closing conditions, including all necessary regulatory and stockholder approvals.
If you own common stock in MTS Medication and wish to obtain additional information, please contact us at the number listed below or visit http://www.zlk.com/mtsi1.html.
Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation.