MILWAUKEE, Aug. 7, 2013 (GLOBE NEWSWIRE) -- We are investigating the Board of Directors of Parametric for possible breaches of fiduciary duty and other violations of state law in connection with the sale of Parametric to Turtle Beach.
Click here to learn how to join the action: http://www.ademilaw.com/case/parametric or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
Parametric's long-term financial outlook is very positive and yet Parametric shareholders will inadequate and unfair consideration for their stock. Turtle Beach is well aware of Parametric's improving financial metrics and is purchasing Parametric at a substantial discount. The merger agreement unreasonably limits prospective bids for Parametric by (i) prohibiting solicitation of any further bids, and (ii) imposing a termination penalty should Parametric receive and accept a superior bid. Parametric insiders, their affiliates and other majority shareholders own significant voting units of Parametric, and will receive millions of dollars as part of change of control arrangements, and therefore can unduly influence a sale of Parametric not necessarily in the best interests of non-insider shareholders. In light of these facts, our investigation centers on the conduct of Parametric's Board of Directors, who have unanimously approved the transaction, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for Parametric given its current financial condition and prospects.
If you own shares of Parametric and wish to obtain additional information, please contact Guri Ademi either at gademi@ademilaw.com or toll-free: 866-264-3995, http://www.ademilaw.com/case/parametric.
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