Weiss & Lurie, a national class action and shareholder rights law firm with offices in New York City and Los Angeles, is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of ZOLL Medical Corporation. (NASDAQ: ZOLL) arising from its agreement for ZOLL to be acquired by Asahi Kasei Corporation for $93.00 per share through a tender offer process expected to commence on or before March 23, 2012. The transaction is expected to close during the second calendar quarter of 2012, subject to customary conditions.
Weiss & Lurie is investigating whether ZOLL's Board acted in the best interests of ZOLL shareholders in approving this deal. At least one analyst set the target price for ZOLL stock at $100.00. Moreover, the 24% deal premium to ZOLL's closing price of $75.10 on March 9, 2012 is lower than the 53% average premium for 19 similar-sized acquisitions of health-care product companies in the past five years, according to data compiled by Bloomberg.
The Board may have approved the deal to further the interests of insiders. Upon completion of the merger, ZOLL will become a wholly owned subsidiary within the Asahi Kasei Group, managed by the current ZOLL management team and with all current business units and operations remaining intact.
If you own ZOLL shares and would like more information about your rights as a shareholder or additional information concerning our investigation, please contact Michael A. Rogovin either by email at info@weisslurie.com or by telephone at (888) 593-4771.
Weiss & Lurie has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded institutions and individuals and obtained important corporate governance in these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or issuing materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at info@weisslurie.com or fill out the form on our website, http://www.weisslurie.com/contact/report_fraud/.
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Contacts:
Weiss & Lurie
Michael A. Rogovin, Esq.
1500 Broadway, 16th
Floor
New York, NY 10036
T: 212.682.3025
F: 212.682.3010
www.weisslurie.com
info@weisslurie.com
