Finkelstein Thompson LLP Announces Investigation of Micrus Endovascular Corp.
12 Juillet 2010 - 9:31PM
Business Wire
Finkelstein Thompson LLP is investigating potential claims on
behalf of shareholders of Micrus Endovascular Corp. (NasdaqGM:MEND)
arising from the Company's announcement of its intent to be
acquired by Johnson & Johnson (NYSE:JNJ). Under the terms of
the agreement, Micrus shareholders will receive $23.40 in cash for
each Micrus share of common stock they own, for a total transaction
value of approximately $480 million.
The investigation is focused on the potential unfairness of the
consideration to Micrus shareholders and the process by which the
Company's Board of Directors considered and approved the
transaction. In particular, Micrus earned approximately $91.1
million in the first three months in 2010 compared to $78.2 million
in 2009. Furthermore, Micrus’ SEC filings indicate the company’s
intent to broaden its product line and further expand its products
worldwide. Micrus shares traded as high as $22.29 on July 9, 2010,
and according to Yahoo Finance, at least one analyst has set a
target price for Micrus stock of $25.00 per share.
If you are interested in discussing your rights as a Micrus
shareholder, or have information relating to this investigation,
please contact Finkelstein Thompson's Washington, DC offices at
(877) 337-1050 or by email at contact@finkelsteinthompson.com.
Finkelstein Thompson LLP has spent over three decades delivering
outstanding representation to institutional and individual clients
in financial litigation, and has been appointed as lead or co-lead
counsel in dozens of shareholder class actions. Indeed, the firm
has served in leadership roles in cases that have recovered over $1
billion for investors and consumers.
To learn more about Finkelstein Thompson LLP, please visit our
web site at www.finkelsteinthompson.com. Attorney advertising.
Prior results do not guarantee similar outcomes.
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