|[June 15, 2012]
Law Office of Brodsky & Smith, LLC Announces Investigation of MEDTOX Scientific, Inc.
BALA CYNWYD, Pa. --(Business Wire)--
Law office of Brodsky & Smith, LLC announces that it is investigating
potential claims against the Board of Directors of MEDTOX Scientific,
Inc. ("MEDTOX" or the "Company") (Nasdaq: MTOX) relating to the proposed
acquisition by Laboratory Corporation of America Holdings. ("LabCorp").
Under the terms of the transaction, MEDTOX shareholders would receive
only $27.00 in cash for each share of MEDTOX stock they own. The
investigation concerns possible breaches of fiduciary duty and other
violations of state law by the Board of Directors of MEDTOX for not
acting in the Company's shareholders' best interests in connection with
the sale process to LabCorp.
MEDTOX has reported strong operating results fr the first quarter of
the fiscal year of 2012. The Company reported a 13.9% increase in
revenue for the first quarter of fiscal year 2012 compared to revenue
during the same quarter of the previous year. Additionally, net income
rose 92.3% for the first quarter of 2012 compared to net income in the
first quarter of 2011. As a result, the investigation focuses on the
decision to agree to this transaction at $27.00 a share.
If you own shares of MEDTOX 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
or by calling toll free 877-LEGAL-90.
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