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St. Jude Medical Inc. (NYSE: STJ)

Merger

Overview
  • Date:
  • 7/22/2016
  • Company Name:
  • St. Jude Medical, Inc.
  • Stock Symbol:
  • STJ
  • Class Period:
  • FROM 4/28/2016
  • Status:
  • Closed/Complete
  • Court:
  • U.S. District Court: Minnesota

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NEW YORK, July 22, 2016 – Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the United States District Court for the District Minnesota on behalf of all persons or entities who held St. Jude Medical Inc. (NYSE: STJ) securities on April 28, 2016 (the “Class Period”).

On April 28, 2016, St. Jude and Abbott announced that they had entered into a definitive agreement pursuant to which St. Jude shareholders will receive $46.75 in cash and 0.8708 shares of Abbott common stock for each share of St. Jude common stock they own ("Proposed Transaction"). The lawsuit seeks injunctive relief on behalf of the named plaintiff and all St. Jude shareholders.

The suit alleges that certain defendants breached their fiduciary duty of disclosure owed to St. Jude shareholders and, as a result, violated applicable Minnesota law. Further, it alleges that in an attempt to secure shareholder approval for the merger, the defendants filed a Registration Statement with the SEC which omitted and/or misrepresented information material to St. Jude shareholders' ability to make an informed decision whether to approve the Proposed Transaction.

If you held St. Jude securities during the Class Period, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.

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