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Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of MGC Diagnostics Corporation (NASDAQ: MGCD) to affiliates of Altus Capital Partners, Inc. Under the terms of the transaction, MGC Diagnostics shareholders will receive $11.03 in cash for each share of MGC Diagnostics stock they own.
The investigation concerns whether the Board of MGC Diagnostics breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Altus Capital Partners, Inc. is underpaying for MGC Diagnostics shares, thus unlawfully harming MGC Diagnostics shareholders.
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