An investigation on behalf of investors in Medtronic, Inc. (NYSE:MDT) shares over potential wrongdoing at Medtronic was announced and NYSE:MDT stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 10/07/2014 -- The Shareholders Foundation announces that an investigation on behalf of current long-term investors in shares of Medtronic, Inc. (NYSE:MDT) shares was launched over potential breaches of fiduciary duties by certain officers and directors at Medtronic.
Investors who purchased shares of Medtronic, Inc. (NYSE:MDT) and currently hold any of those NYSE:MDT shares have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain Medtronic, Inc. (NYSE:MDT officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.
On June 15, 2014, Medtronic, Inc. (NYSE:MDT) and Covidien plc (NYSE: COV) announced that they have entered into an agreement under which Medtronic has agreed to acquire Covidien in a cash-and-stock transaction valued at $93.22 per Covidien share, or a totalof approximately $42.9 billion, based on Medtronic's closing stock price of $60.70 per share on June 13, 2014. Under the terms of the proposed takeover, Covidien plc (NYSE:COV) shareholders will receive $35.19 in cash and 0.956 shares of Medtronic for each share of Covidien plc (NYSE:COV) stock they own, representing an approximate value of $93.22 per Covidien share.
Medtronic, Inc. reported that its Total Revenue rose from over $16.18 billion for the 52 weeks period that ended on April 27, 2012 to over $17 billion for the 52 weeks period that ended on April 25, 2014. However its Net Income over those respective time periods declined from over $3.61 billion to over $3.06 billion. Shares of Medtronic, Inc. (NYSE:MDT) grew from $31.29 per share in August 2011 to as high as $66.53 per share on September 2014.
In June 2013 a lawsuit was filed against Medtronic, Inc. over alleged securities laws violations. The plaintiff alleges that between December 8, 2010 and August 3, 2011 defendants allegedly issued false and misleading statements to the investing public regarding the use of Medtronic Inc's INFUSE(R) Bone Graft product for reduction of pain and complications associated with treating degenerative disc disease.
Those who purchased shares of Medtronic, Inc. (NYSE:MDT), have certain options and should contact the Shareholders Foundation.
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