We are investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Cardiovascular Systems, Inc. (“Cardiovascular Systems” or the “Company”) (NASDAQ: CSII), in connection with the proposed acquisition of the Company by Abbott Laboratories (NYSE: ABT). Under the terms of the merger agreement, the Company’s shareholders will receive $20.00 in cash for each share of Cardiovascular Systems owned. The transaction is valued at approximately $890 million.
Weiss Law is investigating whether (i) Cardiovascular Systems’ board of directors acted in the best interests of Company shareholders in agreeing to the proposed transaction, (ii) the $20.00 per share merger consideration adequately compensates Cardiovascular Systems’ shareholders, and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed. Notably, at least one analyst set a price target for the Company of $30 per share, $10.00 above the per-share merger consideration.