Law Office of Brodsky & Smith, LLC Announces Investigation of Kensey Nash Corporation
BALA CYNWYD, Pa., May 7, 2012 /PRNewswire/ -- Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Kensey Nash Corporation. ("Kensey Nash" or the "Company") (Nasdaq: KNSY) relating to the proposed acquisition by Royal DSM N.V. ("Royal") (NYSE Euronext: DSM KON).
Under the terms of the transaction, Kensey Nash shareholders would receive only $38.50 in cash for each share of Kensey Nash stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Kensey Nash for not acting in the Company's shareholders' best interests in connection with the sale process to Royal. The transaction may undervalue Kensey Nash as an analyst has set a price target for Kensey Nash stock at $39.00 per share. In addition, Kensey Nash reported operating results for the third quarter of fiscal year 2012 that beat analyst expectations. The company reported both a substantial increase in revenue and net sales for the third quarter of 2012 compared to the third quarter of 2011.
If you own shares of Kensey Nash 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 email@example.com, visiting http://brodsky-smith.com/423-knsy-kensey-nash-corporation.html, or by calling toll free 877-LEGAL-90.
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