ATLANTA, Oct. 19, 2009 (GLOBE NEWSWIRE) -- Holzer Holzer & Fistel, LLC announces a shareholder class action lawsuit has been filed against Candela Corporation ("Candela" or the "Company") (Nasdaq:CLZR) and certain of its directors alleging violations of state law in connection with the buyout of the Company by Syneron Medical Ltd. ("Syneron"). According to the complaint, Candela shareholders will receive 0.2911 shares of Syneron in exchange for each Candela share they own. The complaint alleges Candela's directors breached their fiduciary duty by approving the buyout for inadequate consideration. Further, the complaint alleges Candela's directors breached their fiduciary duties by failing to employ an adequate process to evaluate the transaction.
Current holders of Candela common stock with questions concerning their legal rights are encouraged to contact Holzer Holzer & Fistel, LLC and its attorneys Michael I. Fistel, Jr., Esq. or Marshall P. Dees, Esq. via email at mfistel@holzerlaw.com, or mdees@holzerlaw.com, or via toll-free telephone at (888) 508-6832.
Holzer Holzer & Fistel, LLC is an Atlanta, Georgia law firm that dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. More information about the firm is available through its website, www.holzerlaw.com, and upon request from the firm. Holzer Holzer & Fistel, LLC has paid for the dissemination of this promotional communication, and Michael I. Fistel, Jr. is the attorney responsible for its content.