Faruqi & Faruqi, LLP Announces Investigation Related to the Acquisition of Cardiac Science Corporation - CSCX
November 01 2010 - 4:43PM
Business Wire
Faruqi & Faruqi, LLP, a leading national securities firm
headquartered in New York City, is investigating the Board of
Directors of Cardiac Science Corporation (“Cardiac Science” or the
“Company”) (NASDAQ: CSCX) for potential breaches of fiduciary
duties in connection with their conduct related to the sale of the
Company to Opto Circuits Limited. The proposed transaction offers
Cardiac Science shareholders to only receive $2.30 per share in
cash. The transaction is structured as a tender offer which may
obviate the need for a shareholder vote. According to Thomson/First
Call, at least one financial analyst values Cardiac Science’ common
stock at $6.00 per share.
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www.faruqilaw.com/cscx
Whether the Cardiac Science’s Board of Directors breached their
fiduciary duties to Cardiac Science’s stockholders by failing to
conduct an adequate and fair sales process to sell the Company
prior to agreeing to this proposed transaction, whether the
proposed transaction undervalues Cardiac Science’s shares and by
how much this proposed transaction undervalues the Company to the
detriment of Cardiac Science shareholders are the key focus of this
investigation.
Faruqi & Faruqi, LLP is a national law firm which represents
investors and individuals in class action litigation. The firm is
focused on providing exemplary legal services in complex litigation
in the areas of securities, shareholder, antitrust and consumer
litigation, through all phases of litigation. The firm has an
experienced trial team which has achieved significant victories on
behalf of the firm’s clients.
If you own common stock in Cardiac Science and wish to obtain
additional information, please visit us at www.faruqilaw.com/cscx
or contact Juan E. Monteverde, Esq. either via e-mail at
jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or
(212) 983-9330.
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firm responsible for this advertisement is Faruqi & Faruqi, LLP
(www.faruqilaw.com). Prior results do not guarantee or predict a
similar outcome with respect to any future matter. We are happy to
discuss your particular case.
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