BALA CYNWYD, Pa., April 2, 2012 /PRNewswire/ -- Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of ISTA Pharmaceuticals, Inc. ("ISTA" or the "Company") (NASDAQ: ISTA) relating to the proposed acquisition by Bausch & Lomb.
Under the terms of the transaction, ISTA shareholders would receive only $9.10 in cash for each share of ISTA stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of ISTA for not acting in the Company's shareholders' best interests in connection with the sale process to Bausch & Lomb. The transaction may undervalue ISTA as ISTA stock traded at $11.26 on May 10, 2011. In addition, the medium analyst price target for ISTA stock was $10.50 per share and an analyst has set a price target on ISTA stock at $12.00 per share.
If you own shares of ISTA stock and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at investorrelations@brodsky-smith.com, visiting http://brodsky-smith.com/402-ista-ista-pharmaceuticals-inc.html, or by calling toll free 877-LEGAL-90.
SOURCE Law office of Brodsky & Smith, LLC
