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...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Unger v. Packer et al


Case Number

1:12-cv-10543

Court

Massachusetts

Nature of Suit

160(Stockholders Suits)

Judge

Judge Denise J. Casper

Date Filed

March 22, 2012

Law Firms

Companies

Government Agencies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.