Rigrodsky & Long, P.A. Continues Investigation Regarding Acquisition of Zoll Medical Corporation by Asahi Kasei Corporation
March 30 2012 - 12:17PM
Business Wire
Rigrodsky & Long, P.A., a national securities firm with
offices in Delaware and New York, announces that it is continuing
its investigation of potential claims against the board of
directors of Zoll Medical Corporation (“Zoll” or the “Company”)
(NASDAQ GS: ZOLL). The investigation concerns possible breaches of
fiduciary duty and other violations of law related to the Company’s
entry into an agreement to be acquired by Asahi Kasei Corporation
(“Asahi”).
Under the proposed agreement, on March 26, 2012, Asahi commenced
a cash tender offer to purchase all of the outstanding shares of
Zoll’s common stock for $93.00 per share. At least one analyst,
however, has set a price target of $100.00 per share for Zoll’s
stock, raising concerns whether Zoll’s board of directors
adequately shopped the Company to obtain the best price possible
for Zoll’s shareholders before entering into the agreement with
Asahi and disclosed all material facts to shareholders about the
transaction.
If you own the common stock of Zoll and purchased your shares
before March 12, 2012, if you have information or would like to
learn more about these claims, or if you wish to discuss these
matters or have any questions concerning this announcement or your
rights or interests with respect to these matters, please contact
Scott J. Farrell, Esquire of Rigrodsky & Long, P.A., 825 East
Gate Boulevard, Suite 300, Garden City, New York 11530 toll free at
(888) 969-4242, by e-mail to info@rigrodskylong.com, or at:
http://www.rigrodskylong.com/investigations/zoll-medical-corporation-zoll
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware
and Garden City, New York, regularly litigates securities class,
derivative and direct actions, shareholder rights litigation and
corporate governance litigation, including claims for breach of
fiduciary duty and proxy violations in the Delaware Court of
Chancery and in state and federal courts throughout the United
States.
Attorney advertising. Prior results do not guarantee a similar
outcome.
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