The Law Office of Joseph Klein is Investigating Possible Breaches of Fiduciary Duty by the Board of AGA Medical Holdings, Inc...
October 26 2010 - 12:24PM
Business Wire
The Law Office of Joseph Klein is investigating the Board of
Directors of AGA Medical Holdings, Inc. (NasdaqGS:AGAM) for
possible breaches of fiduciary duty and other violations of state
law in connection with their attempt to sell the Company to St.
Jude Medical, Inc. (NYSE:STJ). Under the terms of the proposed
deal, AGA Medical shareholders will get $20.80 in cash and/or St.
Jude Medical common stock for each of their shares of AGA Medical
common stock. The value of the proposed transaction is about $1.3
billion.
The investigation focuses on whether the Board of AGA Medical
breached its fiduciary duties to its stockholders by failing to
adequately shop the Company before entering into this transaction
and whether St. Jude Medical is underpaying for AGA Medical shares.
At least on analyst has set a $21.00 price target for AGA Medical
stock. Also, certain shareholders affiliated with Welsh Carson
Anderson & Stowe, holding approximately 44 percent of AGA
Medical’s outstanding common stock and AGA Medical’s co-founder
Franck Gougeon, holding approximately 19 percent of AGA Medical’s
outstanding common stock, have confirmed their intention to tender
all of their shares into the offer.
If you own common stock in AGA Medical and wish to obtain
additional information, please contact Joseph Klein, Esq. directly,
via email at jk@jkleinlawfirm.com, by telephone at 718-947-0005,
Toll Free: 877-STOK-180, or visit
http://www.jkleinlawfirm.com/agamedical-agam.html.
Joseph Klein, Esq. is an experienced attorney and has also
practiced as a Certified Public Accountant. Mr. Klein represents
investors and participates in securities litigations involving
financial fraud throughout the nation.
CONTACT:Joseph Klein, Esq.1560 East 27th StreetBrooklyn, NY
11229Telephone: (718) 947-0005Fax: (718) 799-1443Toll Free: (877)
STOK-180 (877-786-5180)E-Mail: jk@jkleinlawfirm.comThe Web:
www.jkleinlawfirm.com
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