Zoll Shareholder Files Class Action Over $2B Asahi Sale

Law360, New York (March 23, 2012, 6:57 PM EDT) -- Emergency medical device manufacturer Zoll Medical Corp. sold investors short this month when it agreed to be acquired for $2.2 billion by Japanese health care giant Asahi Kasei Corp., according to a proposed class action filed Thursday.

Ohio shareholder Les Unger brought the complaint against Massachusetts-based Zoll, its board of directors and Asahi, arguing that the deal significantly undervalues the company.

"Given ZOLL’s recent strong performance as well its future growth prospects, the consideration shareholders are to receive is inadequate, " the complaint says.

Tokyo-based Asahi...
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