ARTHROCARE SHAREHOLDERS NOTICE: Kendall Law Group Investigates Potentially
Unfair Acquisition of ArthroCare Corp. by Smith & Nephew Plc.
DALLAS -- February 5, 2014
Kendall Law Group, led by former federal judge Joe Kendall, is investigating
the Board of Directors of ArthroCare Corp. (NYSE:ARTC) on behalf of
shareholders in connection with the sale of the Company to Smith & Nephew Plc.
for possible breaches of fiduciary duties and other violations of law. The
national securities firm’s investigation seeks to determine whether ArthroCare
and its Board breached their fiduciary duties by failing to fulfill its
fiduciary duties, failing to maximize the value of the Company, failing to
disclose all material benefits and costs, and failing to obtain the best
possible consideration for the ArthroCare shareholders.
On February 3, 2014, ArthroCare announced that it had entered into a
definitive merger agreement under which Smith & Nephew would acquire
ArthroCare in an all-cash offer which will pay ArthroCare shareholders $48.25
per share of common stock. The $48.25 merger consideration is substantially
below the three target prices, including a price of $60.00 set by an analyst
at Craig-Hallum Capital Group on January 8, 2014 and a price of $56.00 set by
an analyst at Canaccord Genuity on January 7, 2014. In addition, the $48.25
merger consideration represents a premium to shareholders of 6% based on the
company's closing price on January 31, 2014. In addition, ArthroCare shares
traded above the offer price as recently as January 27, 2014, and reached a
high of $49.95 on January 8, 2014.
If you currently own the common stock of ArthroCare and want to know more
about your rights, you are encouraged to contact Jamie McKey at the Kendall
Law Group at 877-744-3728 or by email at firstname.lastname@example.org to learn
more about your rights as a shareholder. Kendall Law Group was founded by a
former federal judge, includes a former United States Attorney, prosecutors
and securities lawyers who are experienced in complex securities litigation.
The firm has been counsel in numerous merger and acquisition cases nationwide,
including some of the largest transactions in the United States.
Kendall Law Group LLP
Jamie McKey, 877-744-3728
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