SAN DIEGO, April 28, 2016 /PRNewswire/ -- Shareholder rights law firm Johnson & Weaver, LLP has launched an investigation into whether the board members of St. Jude Medical, Inc. (NYSE: STJ) breached their fiduciary duties in connection with the proposed sale of the Company to Abbott Laboratories (NYSE: ABT).
St. Jude Medical develops, manufactures, and distributes cardiovascular medical devices for cardiac rhythm management, cardiovascular and atrial fibrillation therapy areas worldwide.
On April 28, 2016, St. Jude Medical announced it had signed a definitive merger agreement with Abbott. Under the terms of the agreement, St. Jude Medical shareholders will receive $46.75 in cash and 0.8708 shares of Abbott common stock. St. Jude Medical shareholders will be subject to the future volatility and price fluctuation of the common stock of Abbott.
The investigation concerns whether the St. Jude Medical 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 St. Jude Medical shares of common stock. Nationally recognized Johnson & Weaver is investigating whether the proposed deal price represents adequate consideration.
If you are a shareholder of St. Jude Medical 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 protected]) 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
SOURCE Johnson & Weaver, LLP