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Kendall Law Group Investigates Osteotech, Inc. Acquisition for Shareholders

^{Published on 2010-08-17 10:10:27 - Market Wire}
 

DALLAS--([ BUSINESS WIRE ])--[ Kendall Law Group ], a national securities firm led by a former federal judge with attorneys that include a former U.S. Attorney, is investigating Osteotech, Inc. (NASDAQ: OSTE) for shareholders in connection with the proposed acquisition by Medtronic, Inc. The firma™s investigation seeks to determine whether Osteotech 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 an Osteotech 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 ].

"efforts to explore strategic alternatives to maximize shareholder value."

On August 17, 2010, Medtronic and Osteotech announced that they had signed a definitive agreement under which Medtronic will acquire Osteotech in a transaction valued at approximately $123 million. Under the terms of the agreement, Osteotech shareholders will receive $6.50 for each share of Osteotech common stock held. Recently, Spencer Capital, Boston Avenue Capital LLC and Heartland Advisors, Inc., collective owners of approximately 24% of Osteotech outstanding common stock, called the companya™s leadership into question through comments on Osteotech's second quarter 2010 financial results, stating that they were aextremely skepticala of the Osteotecha™s board of directorsa™ aefforts to explore strategic alternatives to maximize shareholder value.a

Kendall Law Group was founded by a former federal judge Joe Kendall, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. Since leaving the bench and returning to trial work, Mr. Kendall has had tremendous success at the prosecution of patent, consumer and securities class action litigation either as lead, co-lead or liaison counsel. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.