ARTHROCARE SHAREHOLDER ALERT: Faruqi & Faruqi, LLP Announces the Investigation of ArthroCare Corporation (ARTC) Over the Proposed Sale of the Company to Smith & Nephew Plc.
Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of ArthroCare Corporation (“ArthroCare” or the “Company”) (NasdaqGS: ARTC) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Smith & Nephew Plc. in a cash deal valued at approximately $1.7 billion. Under the terms of the proposed transaction, ArthroCare’s stockholders will receive $48.25 for each share of ArthroCare common stock they own. According to Yahoo! Finance, at least one analyst has set a price target of $60.00 for the Company.
The investigation focuses on whether ArthroCare’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether and by how much this proposed transaction undervalues the Company to the detriment of ArthroCare’s shareholders.
If you own common stock in ArthroCare and wish to obtain additional information and protect your investments free of charge, please contact Juan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330.