N@N

Faruqi & Faruqi, LLP Investigates Possible Breach of Fiduciary Duty by the Board of Micrus Endovascular Corporation - MEND

^{Published on 2010-07-12 11:55:22 - Market Wire}
 

NEW YORK--([ BUSINESS WIRE ])--Faruqi & Faruqi, LLP, a leading New York securities firm, is investigating the Board of Directors of Micrus Endovascular Corporation (aMicrusa or the aCompanya) (NasdaqGM: MEND) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to Johnson & Johnson. ("J&J") (NYSE: JNJ). Under the terms of the transaction, Micrus shareholders will receive $23.40 in cash for each Micrus share of common stock they own for a total transaction value of approximately $480 million.

The investigation concerns whether the Micrus Board of Directors breached their fiduciary duties to Micrus stockholders by failing to adequately shop the Company before entering into this transaction and whether the price offered undervalues the Company to the detriment of Micrus shareholders. In particular, Micrus reported total revenue of $91.090 million and net income of $11.530 million for quarter ending March 31, 2010, as compared to total revenue and a net loss of $78.196 million and $11.054 million, respectively, for the prior year.

Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, through all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firma™s clients.

If you own common stock in Micrus and wish to obtain additional information, please visit us at [ http://www.faruqilaw.com/merger.php ] or contact Juan E. Monteverde, Esq. either via email at [ jmonteverde@faruqilaw.com ] or by telephone at (877) 247-4292 or (212) 983-9330.

Attorney Advertising.(C) 2010 Faruqi & Faruqi, LLP. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP ([ www.faruqilaw.com ]). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We are happy to discuss your particular case.