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The Law Firm of Levi & Korsinsky, LLP Launches an Investigation into the Possible Breaches of Fiduciary Duty by the Board of ...

Date : 10/19/2010 @ 10:00AM
Source : Business Wire
Stock : Cardiac Science Corp (MM) (CSCX)
Quote : 2.32  0.0 (0.00%) @ 2:05AM
Cardiac Science Corp (MM) share price Chart

The Law Firm of Levi & Korsinsky, LLP Launches an Investigation into the Possible Breaches of Fiduciary Duty by the Board of ...

Cardiac Science Corp (MM) (NASDAQ:CSCX)
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Levi & Korsinsky is investigating the Board of Directors of Cardiac Science Corporation (“Cardiac Science” or the “Company”) (NasdaqGM:CSCX) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to Opto Circuits Limited (“Opto Circuits”). Under the terms of the transaction, Cardiac Science shareholders will receive $2.30 in cash for each share of Cardiac Science common stock. The boards of directors of both companies have unanimously approved the transaction, which will take the form of an all-cash tender offer by a wholly-owned subsidiary of Opto Circuits, followed by a second-step merger.

Click here to learn how to join the action: http://www.zlk.com/cardiac-science-cscx.html, or call: 877-363-5972.

The investigation concerns whether the Cardiac Science Board of Directors breached their fiduciary duties to Cardiac Science stockholders by failing to adequately shop the Company before entering into this transaction and whether Opto Circuits is underpaying for Cardiac Science shares, thus unlawfully harming Cardiac Science stockholders. In particular, at least one analyst set a price target for Cardiac Science stock at $6.00 per share and Cardiac Science stock has traded as high as $2.48 per share as recently as August 4, 2010.

If you own common stock in Cardiac Science and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://www.zlk.com/cardiac-science-cscx.html.

Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major litigations involving mergers and acquisitions. For more information, please feel free to contact any of the attorneys listed below.



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