Abe Shainberg Investigates Matrixx Initiatives (MTXX)

The Law Office of Abe Shainberg is investigating the Board of Directors of Matrixx Initiatives (NASDAQ: MTXX) for possible breaches of fiduciary duty and other violations of state law in connection with the proposal from H.I.G. Capital, LLC. to acquire all outstanding shares of Matrixx. Under the terms of the proposed transaction, Matrixx shareholders will receive $8.00 per share in cash for a total transaction value of approximately $75.2 million.

The investigation concerns whether the Matrixx Board of Directors breached their fiduciary duties to Matrixx stockholders by failing to adequately shop the Company before entering into this transaction and whether H.I.G. is underpaying for Matrixx shares. According to Thomson/FirstCall, at least one analyst set a price target for Matrixx stock at $8.50 per share.