Halper Sadeh Investigates FONAR's $19 Share Sale for Fairness to Shareholders
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2h ago
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Source: Businesswire
- Shareholder Rights Investigation: Halper Sadeh LLC is investigating whether FONAR Corporation's sale at $19 per share to CEO Timothy Damadian and certain executives is fair to shareholders, potentially impacting shareholder rights.
- Potential Legal Violations: The investigation focuses on whether FONAR's board violated federal securities laws by failing to secure the best possible deal for shareholders, which could lead to financial losses for them.
- Insufficient Disclosure: Halper Sadeh highlights that FONAR may not have disclosed all material information necessary for shareholders to adequately assess the merger consideration, affecting their decision-making capabilities.
- Possibility of Legal Relief: The law firm may seek increased compensation for shareholders and demand additional disclosures to ensure their rights are protected, demonstrating a commitment to safeguarding shareholder interests.
FONR
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About FONR
FONAR Corporation is engaged in the research, development, production and marketing of medical scanning equipment, which uses principles of Magnetic Resonance Imaging (MRI) for the detection and diagnosis of human diseases. The Company conducts its business in two segments: medical equipment, and physician management and diagnostic services. Its medical equipment segment is conducted directly through the Company. Its physician management and diagnostic services segment is conducted through its subsidiary, Health Management Corporation of America (HMCA). Its signature product is the FONAR UPRIGHT Multi-Position MRI (STAND-UP MRI). HMCA provides management services, administrative services, billing and collection services, compliance consulting, purchasing, information technology (IT) services, repair, maintenance service, and clerical and other non-medical personnel to medical providers engaged in diagnostic imaging. HMCA owns and operates six diagnostic imaging facilities in Florida.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
