Cardiac Science Corp (MM) (NASDAQ:CSCX)
Historical Stock Chart
3 Years : From May 2010 to May 2013
Briscoe Law Firm, PLLC, founded by a former state prosecutor and
enforcement attorney for the United States Securities and Exchange
Commission, and the law firm of Powers Taylor, LLP are investigating
potential legal claims against the Board of Directors of Cardiac Science
Corporation (“Cardiac Science” or “CSCX”) (NASDAQ: CSCX) related to the
proposed acquisition of Cardiac Science by Opto Circuits (India) Limited.
The definitive merger agreement, which was announced on October 19,
2010, involves a transaction valued at approximately $55 million under
which Cardiac Science shareholders will receive only $2.30 in cash for
each share of Cardiac Science/CSCX common stock they hold. The
transaction is structured to include an all-cash tender offer by a
wholly owned subsidiary of Opto Circuits, followed by a second-step
merger of the companies, to be completed in the fourth quarter of 2010.
At least one analyst has set a target price for Cardiac Stock at $6.00
per share, and Cardiac Stock traded as high as $2.48 per share in August
2010. Based on the lack of a premium to shareholders and other factors,
the proposed transaction may undervalue Cardiac Science/CSCX shares and
not be fair to Cardiac Science shareholders. The investigation relates
to possible breaches of fiduciary duty and other violations of state law
by the Board of Directors of Cardiac Science for approving this
transaction and whether Cardiac Science’s Board of Directors acted in
the shareholders’ best interests.
If you currently own shares of Cardiac Science/CSCX and would like
additional information regarding this investigation, or if you have
information regarding the allegations involving this transaction, please
contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607,
via e-mail at email@example.com,
or Willie Briscoe at The Briscoe Law Firm, PLLC, toll free (877)
397-5991, or via email at WBriscoe@TheBriscoeLawFirm.com.
There is no cost or fee to you.
The Briscoe Law Firm is a full service business litigation and
shareholder rights advocacy firm with more than 20 years of experience
in complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that handles a
variety of complex business litigation matters, including claims of
investor and stockholder fraud, shareholder oppression, shareholder
derivative suits, and security class actions.