NEW YORK, Sept. 29, 2014 (GLOBE NEWSWIRE) -- Levi & Korsinsky notifies investors of Covidien plc ("Covidien" or "the Company") (NYSE:COV) of claims of breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Medtronic, Inc. ("Medtronic") (NYSE:MDT). A complaint was filed in Massachusetts federal court.
Click here to learn more about the action: http://zlk.9nl.com/covidien-cov, or call: 877-363-5972. There is no cost or obligation to you.
Under the terms of the transaction, Covidien shareholders will receive $35.19 in cash and 0.956 shares of Medtronic for each share of Covidien stock they own, representing an approximate value of $93.22 per Covidien share. The claims concern whether the Covidien Board of Directors breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Medtronic is underpaying for Covidien shares.
If you own Covidien common stock and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/covidien-cov.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm's 26 attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.