The Law Office Of Joseph Klein Announces Investigation Of Possible Breach Of Fiduciary Duty By The Board Of Osteotech, Inc. In Connection With Medtronic Merger - OSTE
The Law Office of Joseph Klein is investigating the Board of Directors of Osteotech, Inc. (“Osteotech” or the “Company”) (Nasdaq: OSTE) for possible breaches of fiduciary duty and other violations of state law in connection with the proposed transaction in which Medtronic, Inc. (“Medtronic”) (NYSE: MDT) will acquire Osteotech for $6.50 per share in cash or a total transaction value of approximately $123 million.
The investigation concerns whether the Osteotech Board of Directors breached their fiduciary duties to stockholders by failing to adequately shop the Company before entering into this transaction and whether Medtronic is underpaying for Osteotech shares. In particular, the Company is in the middle of a proxy fight with a shareholder group that owns 23% of Osteotech’s common stock. According to Dr. Kenneth Shubin Stein of Spencer Capital, which part of the shareholder group, the company has implemented "a number of bad faith, anti-corporate governance practices such as golden parachutes, 'poison pills,' 'poison puts' and the rejection of a fair value acquisition attempt."
If you own common stock in Osteotech and wish to obtain additional information about this investigation and what is being done to advance the interests of the shareholders, please contact Joseph Klein, Esq. directly, via email at email@example.com, by telephone at 718-947-0005, Toll Free: 877-STOK-180, or visit http://www.jkleinlawfirm.com/osteotech-oste.html.
Joseph Klein, Esq. is an experienced attorney and has also practiced as a Certified Public Accountant. Mr. Klein represents investors and participates in securities litigations involving financial fraud throughout the nation.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV