SAN DIEGO, May 16, 2018 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Abaxis, Inc. (NASDAQ: ABAX) ("Abaxis") breached their fiduciary duties in connection with the proposed sale of the Company to Zoetis Inc. ("Zoetis"). Abaxis develops, manufactures, markets, and sells portable blood analysis systems for use in human or veterinary patient care settings to provide rapid blood constituent measurements for clinicians worldwide.
On May 16, 2018, Abaxis announced that it had signed a definitive merger agreement with Zoetis. Under terms of the deal, Zoetis will pay $83 in cash for each Abaxis share outstanding.
The investigation concerns whether the Abaxis board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for Abaxis shares of common stock. Nationally recognized Johnson Fistel is investigating whether the proposed deal represents adequate consideration, especially given the Company's projected earnings growth.
If you are a shareholder of Abaxis and believe the proposed buyout price is too low or you're interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (firstname.lastname@example.org) at 619-814-4471. If emailing, please include a phone number.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
SOURCE Johnson Fistel, LLP