|[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
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 (email@example.com)
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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