SAN DIEGO--(BUSINESS WIRE)--Shareholder rights law firm Johnson & Weaver, LLP has launched an investigation into whether the board members of CareFusion Corporation (NYSE: CFN) breached their fiduciary duties in connection with the proposed sale of the Company to Becton Dickinson & Company.
CareFusion is a medical technology company that provides various healthcare products and services. It offers product lines in the areas of medication management, infection prevention, operating room effectiveness, and respiratory care.
On October 5, 2014, CareFusion announced it had signed a definitive merger agreement with Becton Dickinson. Under the terms of the transaction, CareFusion shareholders will receive $49.00 in cash and 0.0777 of a share of Becton Dickinson for each share of CareFusion, or a total of $58.00 per CareFusion share based on Becton Dickinson's closing price as of October 3, 2014.
The investigation concerns whether CareFusion’s board failed to satisfy their duties to the Company’s shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for the Company’s shares of common stock. Among other things, Johnson & Weaver is concerned the 0.0777 exchange ratio that CareFusion shareholders are expected to receive exposes CareFusion shareholders to the volatility of Becton’s share price.
If you are a shareholder of CareFusion and believe the proposed buyout price is too low or you’re interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (firstname.lastname@example.org) at 619-814-4471.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.