N@N

Kendall Law Group Investigates Somanetics Corp. Merger for Shareholders

^{Published on 2010-06-16 13:35:21 - Market Wire}
 

DALLAS--([ BUSINESS WIRE ])--[ Kendall Law Group ] is investigating Somanetics Corp. (NASDAQ: SMTS) for shareholders in connection with the proposed merger with Covidien plc. The national securities firma™s investigation seeks to determine whether Somanetics and its Board breached their fiduciary duties by entering into the agreement without properly shopping for a deal that would provide better value for shareholders. If you are a Somanetics shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at [ skendall@kendalllawgroup.com ].

On June 16, 2010, the companies announced that they had entered into an agreement for Somanetics to be acquired by Covidien in a $250 million transaction. Under the terms of the agreement, Somanetics will be acquired in an all-cash transaction in which Somanetics stockholders will receive $25.00 per share owned. Somanetics share prices have traded at or near $21 on at least four separate occasions during the last three months, with a high of $21.96 on May 6, 2010. Additionally, Somanetics was recently upgraded from aMarket Performa to aOutperforma by Barrington Research and reported an 18% increase in net revenues for the first quarter of 2010, as compared to their 2009 first quarter results.

Kendall Law Group was founded by a former federal judge, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.