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Rigrodsky & Long, P.A., a national securities firm with offices in Delaware and New York, announces that it is continuing its investigation of potential claims against the board of directors of Zoll Medical Corporation (“Zoll” or the “Company”) (NASDAQ GS:
ZOLL). The investigation concerns possible breaches of fiduciary duty and other violations of law related to the Company’s entry into an agreement to be acquired by Asahi Kasei Corporation (“Asahi”).
Under the proposed agreement, on March 26, 2012, Asahi commenced a cash tender offer to purchase all of the outstanding shares of Zoll’s common stock for $93.00 per share. At least one analyst, however, has set a price target of $100.00 per share for Zoll’s stock, raising concerns whether Zoll’s board of directors adequately shopped the Company to obtain the best price possible for Zoll’s shareholders before entering into the agreement with Asahi and disclosed all material facts to shareholders about the transaction.