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. If you own the common stock of Zoll and purchased your shares before March 12, 2012, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Scott J. Farrell, Esquire of Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, New York 11530 toll free at (888) 969-4242, by e-mail to email@example.com, or at: http://www.rigrodskylong.com/investigations/zoll-medical-corporation-zollRigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States. Attorney advertising. Prior results do not guarantee a similar outcome.
Zoll Medical Corporation (Nasdaq:ZOLL) hit a new 52-week high Monday as it is currently trading at $93.29, above its previous 52-week high of $93.02 with 1.2 million shares traded as of 3:55 p.m. ET. Average volume has been 336,400 shares over the past 30 days.
Shares of Zoll Medical Corporation (Nasdaq:ZOLL) have taken a tremendous swing upward. The stock is trading at $92.95 as of 9:30 a.m. ET, 23.8% above Friday's closing price of $75.10. Volume is at 972,021, 2.9 times the daily average of 336,400.