WILMINGTON, Del.--(BUSINESS WIRE)--Rigrodsky & Long, P.A.:
- Do you own shares of Covidien plc (NYSE: COV)?
- Did you purchase any of your shares prior to June 16, 2014?
- Do you think the proposed buyout price is too low?
- Do you want to discuss your rights?
Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of Covidien plc (“Covidien” or the “Company”) (NYSE: COV) regarding possible breaches of fiduciary duties and other violations of law related to the Company’s entry into an agreement to be acquired by Medtronic, Inc. (“Medtronic”) (NYSE: MDT), in a transaction valued at approximately $42.9 billion.
Click here to learn more: http://www.rigrodskylong.com/investigations/covidien-plc-cov.
Under the terms of the agreement, public shareholders of Covidien would receive $35.19 in cash and 0.956 shares of Medtronic for each share of Covidien they own. Based on Medtronic’s closing stock price on June 13, 2014, Covidien shareholders would have received consideration valued at approximately $93.22 per share.
The investigation concerns whether Covidien’s board of directors failed to adequately shop the Company and obtain the best possible value for Covidien’s shareholders before entering into an agreement with Medtronic.
If you own the common stock of Covidien and purchased your shares before June 16, 2014, 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 Seth D. Rigrodsky or Gina M. Serra at Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803, by telephone at (888) 969-4242; by e-mail to firstname.lastname@example.org, or at: http://www.rigrodskylong.com/investigations/covidien-plc-cov.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, on behalf of shareholders in states and federal courts throughout the United States.
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