San Diego, CA -- (SBWIRE) -- 08/17/2015 -- An investor in NASDAQ:THOR shares filed a lawsuit in effort to halt the proposed takeover of Thoratec Corporation by St. Jude Medical for $63.50 per share. The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:THOR stockholders by agreeing to sell Thoratec Corporation too cheaply via an unfair process to St. Jude Medical.

Investors who purchased shares of Thoratec Corporation (NASDAQ:THOR) and currently hold any of those NASDAQ:THOR shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation or call +1(858) 779 - 1554.

On July 22, 2015, St. Jude Medical (NYSE:STJ) and Thoratec Corporation (NASDAQ:THOR) announced that the Boards of Directors of both companies have unanimously approved an agreement under which St. Jude Medical will acquire all of the outstanding shares of Thoratec for $63.50 per share in a cash transaction valued at approximately $3.4 billion, net of cash acquired.

However, the plaintiff claims that the proposed consideration NASDAQ:THOR shareholders will receive is grossly inadequate and undervalues Thoratec Corporation. The plaintiff alleges that the $63.50-offer does not take into account Thorate's recent growth through strategic acquisitions and novel product developments. In addition, the plaintiff claims that the process is also unfair to NASDAQ:THOR stockholders.

Shares of Thoratec Corporation (NASDAQ:THOR) closed on August 13, 2015, as $63.06 per share.

Those who are current investors in Thoratec Corporation (NASDAQ:THOR) shares have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com