NEW YORK, July 22, 2015 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Thoratec Corp. ("Thoratec" or the "Company") (NASDAQGS:THOR) for potential breaches of fiduciary duties in connection with the sale of the Company to St. Jude Medical Inc. for approximately $3.4 billion.
The Company's stockholders will only receive $63.50 for each share of Company common stock they own. The offer represents a mere 10 percent premium over Thortec's Friday, July 17th, closing price per share and a negligible premium over Thortec's Wednesday, July 22nd, opening price per share. Furthermore, the Company's price per share is expected to continue climbing.
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The investigation focuses on whether Thoratec's Board of Directors breached their fiduciary duties to the Company's stockholders by failing to conduct a fair sales process and whether and by how much this proposed transaction undervalues the Company to the detriment of Thoratec's shareholders.
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If you own common stock in Thoratec and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/THOR or contact Juan E. Monteverde, Esq. either via e-mail at email@example.com or by telephone at (877) 247-4292 or (212) 983-9330.
Faruqi & Faruqi, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Juan E. Monteverde, Esq.
Toll Free: (877) 247-4292
Phone: (212) 983-9330
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