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COVIDIEN SHAREHOLDER ALERT: Former SEC Attorney Willie Briscoe And Powers Taylor LLP Believe The Acquisition Of Covidien By Medtronic May Be Unfair To Shareholders

Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor LLP are investigating potential claims against the Board of Directors of Covidien plc (“Covidien”) (NYSE: COV) concerning the acquisition by Medtronic. Under the terms of the definitive agreement, which is valued at approximately $42.9 billion, Covidien shareholders will only receive 0.956 shares of Medtronic and $35.19 in cash for each share of Covidien owned.

If you are an affected investor, and you want to learn more about the investigation or if you have information that you believe would be helpful to our investigation of the fairness of the proposed transaction, contact Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 239-4568, or via email at WBriscoe@TheBriscoeLawFirm.com, or Patrick Powers at Powers Taylor LLP, toll free (877) 728-9607, via e-mail at shareholder@powerstaylor.com. There is no cost or fee to you.

The investigation centers on whether Covidien’s Board of Directors is acting in the shareholders’ best interests, whether the board is properly negotiating a higher share price for the shareholders, and whether the board has employed an adequate process to review and act on the proposed transaction.

The Briscoe Law Firm, PLLC is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.

Powers Taylor LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.



Copyright Business Wire 2010

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