SAN DIEGO, June 27, 2016 /PRNewswire/ -- Shareholder rights
law firm Johnson & Weaver, LLP has launched an investigation
into whether the board members of HeartWare International, Inc.
(NASDAQ: HTWR) breached their fiduciary duties in connection with
the proposed sale of the Company to Medtronic plc (NYSE: MDT).
Additional Information:
HeartWare designs, develops, manufactures and markets miniaturized
implantable heart pumps or ventricular assist devices (VAD) for the
treatment of advanced heart failure.
On June 27, 2016, HeartWare
announced it had signed a definitive merger agreement with
Medtronic. Under the terms of the agreement, HeartWare stockholders
will receive $58.00 per share in
cash. The proposed transaction is subject to regulatory
approval.
The investigation concerns whether the HeartWare 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 HeartWare
shares of common stock. Nationally recognized Johnson &
Weaver is investigating whether the proposed deal price represents
adequate consideration; especially given that the price target for
one Wall Street analyst is $60.00. The 52-week high for HeartWare
stock is $94.15.
If you are a shareholder of HeartWare 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