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).
Additional Information:
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 (jimb@johnsonandweaver.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.
Contact:
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
jimb@johnsonandweaver.com
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SOURCE Johnson & Weaver, LLP