WeissLaw LLP Announces Class Action Lawsuit Against Covidien plc
NEW YORK, Oct. 1, 2014 /PRNewswire/ -- WeissLaw LLP announces that it filed a class action lawsuit on August 26, 2014, in the U.S. District Court, Southern District Of Massachusetts (the "Court"), on behalf of the shareholders of Covidien plc ("Covidien") (COV) against Covidien, and its Board of Directors for, among other things, violations of sections 14(a) and 20(a) of the Securities and Exchange Act of 1934 (the "Exchange Act").
The complaint arises out of a June 15, 2014 press release announcing that Covidien had entered into a definitive merger agreement with Medtronic, Inc., pursuant to which Covidien shareholders will receive $35.19 cash and 0.956 of a share of the combined company (the "Proposed Transaction"). The complaint seeks injunctive relief on behalf of the named plaintiff and all other similarly situated shareholders of Covidien as of June 15, 2014 (the "Class"). The named plaintiff is represented by WeissLaw LLP.
The named plaintiff alleges that certain of the defendants breached their fiduciary duties of loyalty and due care owed to Covidien shareholders; and in an attempt to secure shareholder approval of the Proposed Transaction, filed a materially false and misleading registration statement on Form S-4 with the U.S. Securities and Exchange Commission in violation of the Exchange Act and their fiduciary duties of candor and full disclosure. The omitted and/or misrepresented information is believed to be material to Covidien shareholders' ability to make an informed decision whether to approve the Proposed Transaction.
If you wish to serve as lead plaintiff, you must move the Court no later than sixty days from August 19, 2014. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Michael Rogovin or Kelly Keenan of WeissLaw LLP at 888.593.4771, or by e-mail at [email protected]. Any member of the Class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent Class member.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients. For more information about the firm, please go to: http://www.weisslawllp.com.
Contact:
WeissLaw LLP
Michael Rogovin
Kelly Keenan
1500 Broadway, 16th Floor
New York, NY 10036
212.682.3025
www.weisslawllp.com
[email protected]
SOURCE WeissLaw LLP
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