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Tripp Levy PLLC Investigates Proposed Acquisition of ev3

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^{Published in Health and Fitness on Tuesday, June 1st 2010 at 17:40 GMT by Market Wire}  

NEW YORK--([ BUSINESS WIRE ])--Tripp Levy PLLC announces an investigation into the proposed acquisition of ev3, Inc. (NASDAQ: EVVV). On June 1, 2010, Covidien PLC announced that it is proposing to acquire all of the common stock of ev3 for $22.50 per share in a cash tender offer.

However, ev3 may not have adequately shopped itself around before entering into this transaction and, pursuant to this proposed transaction, Covidien may be underpaying for ev3, thus unlawfully harming ev3 shareholders. In addition, all of the directors and executive officers of ev3 have confirmed their intention to tender all shares held by them into the offer, and certain stockholders affiliated with Warburg, Pincus Equity Partners LP, holding approximately 24% of ev3's outstanding common stock, have entered into agreements with Covidien to tender their shares.

The investigation concerns, among other things, whether the consideration to be paid to ev3 shareholders is grossly unfair, inadequate, and substantially below the fair or inherent value of ev3. The investigation further concerns whether the directors of ev3 may have breached their fiduciary duties by not acting in ev3 shareholders' best interests in connection with the sale process of ev3.

If you own ev3 common stock and you wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact: