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The Law Office of Abe Shainberg Launches an Investigation into the Possible Breaches of Fiduciary Duty by the Board of AGA Medi

^{Published on 2010-10-18 13:11:10 - Market Wire}
 

NEW YORK--([ BUSINESS WIRE ])--The Law Office of Abe Shainberg is investigating the Board of Directors of AGA Medical Holdings, Inc. (aAGA Medicala or the aCompanya) (NasdaqGS:AGAM) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to St. Jude Medical, Inc. (aSt. Jude Medicala) (NYSE:STJ). The deal calls for AGA Medical shareholders to receive $20.80 in cash and/or St. Jude Medical common stock for each share of AGA Medical common stock, for a total value of about $1.3 billion, including the assumption of debt. Certain shareholders affiliated with Welsh Carson Anderson & Stowe, holding approximately 44 percent of AGA Medicala™s outstanding common stock and AGA Medicala™s co-founder Franck Gougeon, holding approximately 19 percent of AGA Medicala™s outstanding common stock, have confirmed their intention to tender all of their shares into the offer.

The investigation concerns whether the AGA Medical Board of Directors breached their fiduciary duties to AGA Medical stockholders by failing to adequately shop the Company before entering into this transaction and whether St. Jude Medical is underpaying for AGA Medical shares, thus unlawfully harming AGA Medical stockholders.

If you own common stock in AGA Medical and wish to obtain additional information, please contact Abe Shainberg, Esq. either via email at [ as@ashainberglaw.com ] or by telephone at (212) 425-7286, or visit [ http://www.ashainberglaw.com/agamedical-agam.html ].

Mr. Shainberg has expertise in prosecuting investor securities litigation, is a certified and registered arbitrator and mediator involving financial matters, and represents investors in various matters nationwide.