Levi & Korsinsky, LLP Investigates Possible Breach of Fiduciary Duty by the Board of Aspect Medical Systems, Inc. - ASPM
September 30 2009 - 1:26PM
Business Wire
Levi & Korsinsky is investigating the Board of Directors of
Aspect Medical Systems, Inc. (“Aspect Medical” or the “Company”)
(NasdaqGS: ASPM) for possible breaches of fiduciary duty and other
violations of state law in connection with their attempt to sell
the Company to Covidien PLC (NYSE:COV). Under the terms of the
agreement, Aspect Medical shareholders will receive $12.00 in cash
for each share of Aspect Medical common stock they own.
For the year ending December 31, 2008, the Company reported
$11.1 million in net income as compared to $2.2 million for the
year ended December 31, 2007. The investigation concerns whether
the Aspect Medical Board of Directors breached their fiduciary
duties to Aspect Medical shareholders by agreeing to sell the
Company at an unfair price and by agreeing to a no solicitation
provision and a $8 million termination fee that will all but ensure
that no superior offer will ever be forthcoming.
If you own common stock in Aspect Medical and wish to obtain
additional information, please contact us at the number listed
below or visit http://www.zlk.com/aspm1.html.
Levi & Korsinsky has expertise in prosecuting investor
securities litigation and extensive experience in actions involving
financial fraud and represents investors throughout the nation,
concentrating its practice in securities and shareholder
litigation.
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