Law Office of Brodsky & Smith, LLC Announces Investigation of Cardiac Science Corporation
October 20 2010 - 6:40PM
Business Wire
Law office of Brodsky & Smith, LLC announces that it is
investigating potential claims against the Board of Directors
Cardiac Science Corporation (“Cardiac Science”) or the “Company”)
(Nasdaq:CSCX) relating to the proposed acquisition by Opto Circuits
Limited (“Opto”).
Under the terms of the transaction, Cardiac Science shareholders
would receive cash of $2.30 for each share of Cardiac Science stock
they own. The investigation concerns possible breaches of fiduciary
duty and other violations of state law. The transaction appears to
be unfair, in part, given that the offer represents no premium over
the $2.47 a share Cardiac Science stock traded at as recently as
August 4, 2010 and an analyst set a price target for Cardiac
Science at $6.00 per share. Thus, shareholders need additional
information to know if the Board of Directors breached their
fiduciary duties by failing to adequately shop the Company, which
has resulted in Opto underpaying for the company.
If you own shares of Cardiac Science and wish to discuss the
legal ramifications of the proposed transaction, or have any
questions, you may e-mail or call the law office of Brodsky &
Smith, LLC who will, without obligation or cost to you, attempt to
answer your questions. You may contact Jason L. Brodsky, Esquire or
Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza,
Suite 602, Bala Cynwyd, PA 19004, by e-mail at
investorrelations@brodsky-smith.com, visiting
http://brodsky-smith.com/240-cscx-cardiac-science-corporation.html,
or by calling toll free 877-LEGAL-90.
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