The Law Firm of Levi & Korsinsky, LLP Launches an Investigation into the Possible Breaches of Fiduciary Duty by the Board of ...
20 October 2010 - 1:00AM
Business Wire
Levi & Korsinsky is investigating the Board of Directors of
Cardiac Science Corporation (“Cardiac Science” or the “Company”)
(NasdaqGM:CSCX) for possible breaches of fiduciary duty and other
violations of state law in connection with their attempt to sell
the Company to Opto Circuits Limited (“Opto Circuits”). Under the
terms of the transaction, Cardiac Science shareholders will receive
$2.30 in cash for each share of Cardiac Science common stock. The
boards of directors of both companies have unanimously approved the
transaction, which will take the form of an all-cash tender offer
by a wholly-owned subsidiary of Opto Circuits, followed by a
second-step merger.
Click here to learn how to join the action:
http://www.zlk.com/cardiac-science-cscx.html, or call:
877-363-5972.
The investigation concerns whether the Cardiac Science Board of
Directors breached their fiduciary duties to Cardiac Science
stockholders by failing to adequately shop the Company before
entering into this transaction and whether Opto Circuits is
underpaying for Cardiac Science shares, thus unlawfully harming
Cardiac Science stockholders. In particular, at least one analyst
set a price target for Cardiac Science stock at $6.00 per share and
Cardiac Science stock has traded as high as $2.48 per share as
recently as August 4, 2010.
If you own common stock in Cardiac Science and wish to obtain
additional information, please contact Joseph E. Levi, Esq. either
via email at jlevi@zlk.com or by telephone at (212) 363-7500,
toll-free: (877) 363-5972, or visit
http://www.zlk.com/cardiac-science-cscx.html.
Levi & Korsinsky has expertise in prosecuting investor
securities litigation and extensive experience in actions involving
financial fraud and represents investors throughout the nation,
concentrating its practice in securities and shareholder
litigation. The attorneys at Levi & Korsinsky have been
appointed by numerous courts throughout the country to serve as
lead counsel on behalf of shareholders in major litigations
involving mergers and acquisitions. For more information, please
feel free to contact any of the attorneys listed below.
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