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TMCNet:  Shareholder Rights Law Firm Johnson & Weaver, LLP Announces Investigation of Proposed Sale of Patient Safety Technologies, Inc. to Stryker Corporation

[December 31, 2013]

Shareholder Rights Law Firm Johnson & Weaver, LLP Announces Investigation of Proposed Sale of Patient Safety Technologies, Inc. to Stryker Corporation

SAN DIEGO --(Business Wire)--

Shareholder Rights Law Firm Johnson & Weaver, LLP is investigating whether members of the board of directors of Patient Safety Technologies, Inc. (OTC: PSTX) breached their fiduciary duties in connection with the planned sale of the Company to Stryker Corporation. Patient Safety Technologies engages in the development, marketing, and sale of medical products.

On December 31, 2013, Patient Safety Technologies and Stryker announced that they had entered into a definitive agreement. Under terms of the transaction, Patient Safety Technologies' shareholders will receive $2.22 in cash for each share owned, or approximately $120 million. In July 2013 the stock traded as high as $2.36 and at least one aalyst has issued a price target for Patient Safety Technologies stock at $2.50 per share.


The investigation concerns whether Patient Safety Technologies' board members failed to satisfy their duties to the Company's shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for the Company's shares of common stock.

If you are a Patient Safety Technologies shareholder and would like additional information concerning your legal rights, please contact lead analyst Jim Baker (jimb@johnsonandweaver.com) at 619-230-0063.

Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California and New York. 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.


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