BioMimetic Investor Says $380M Buyout Deal Doesn't Cut It

Law360, Wilmington (November 26, 2012, 9:43 PM EST) -- A BioMimetic Therapeutics Inc. investor launched a putative class action Wednesday protesting the orthopedic therapy company's planned $380 million buyout by Wright Medical Technology Inc., claiming the deal greatly undervalues a company on the verge of a major breakthrough.

Filed by shareholder Menachem Maiman in Delaware court, the complaint alleges that BioMimetic's board breached its fiduciary duty by attempting to sell the orthopedic and sports-medicine therapy company “by means of an unfair process and for an unfair price.”

The proposed deal would shortchange shareholders because it...
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