How much notice must a corporate board give to shareholders regarding a potential acquisition of the company?
The Alexander Firm P.C. Announces Investigation of Patient Safety Technologies, Inc.
LOS ANGELES (BUSINESS WIRE). January 13, 2014
The Alexander Firm P.C., A Professional Law Corporation, announces that it is investigating potential claims for breach of fiduciary duty against the Board of Directors of Patient Safety Technologies, Inc. (“Patient Safety” or the “Company”) (OTC:PSTX) concerning the proposed acquisition of the Company by Stryker Corporation (“Stryker”). The transaction is valued at approximately $120 million or $2.22 per share.
This investigation concerns whether the Board of Directors of Patient Safety breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into the proposed transaction, and whether the Company has disclosed all material information to shareholders about the transaction.
More information at www.alexanderfirmpc.com