SAN DIEGO, Sept. 27, 2016 /PRNewswire/ -- Shareholder rights law firm Johnson & Weaver, LLP has launched an investigation into whether the board members of EndoChoice Holdings, Inc. (NYSE: GI) breached their fiduciary duties in connection with the proposed sale of the Company to Boston Scientific Corporation (NYSE: BSX).
EndoChoice is a medical device company that designs and commercializes various products for gastrointestinal (GI) caregivers in the United States and internationally.
On September 27, 2016, EndoChoice announced it had signed a definitive merger agreement with Boston Scientific. Under the terms of the agreement, EndoChoice stockholders will receive $8.00 in cash for each share of common stock.
The investigation concerns whether the EndoChoice board failed to satisfy their 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 EndoChoice shares of common stock. Nationally recognized Johnson & Weaver is investigating whether the proposed deal price represents adequate consideration, especially given one Wall Street analyst has a $10.00 price target on the stock. On or about June 5, 2015, EndoChoice issued over 6.35 million shares of common stock at $15 per share, raising more than $95 million in gross proceeds.
If you are a shareholder of EndoChoice 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 (email@example.com) at 619-814-4471. If emailing, please include a phone number where you can be reached.
About Johnson & Weaver, LLP:
Johnson & Weaver, 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.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/endochoice-gi-alert-johnson--weaver-llp-launches-an-investigation-into-the-fairness-of-price-and-process-in-proposed-sale-of-endochoice-holdings-inc-is-800-a-fair-price-300334780.html
SOURCE Johnson & Weaver, LLP