Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of Given Imaging Ltd. (“Given” or the “Company”) (NASDAQ GS: GIVN) regarding possible breaches of fiduciary duties and other violations of law related to the Company’s entry into an agreement to be acquired by Covidien plc (“Covidien”) (NYSE: COV), in a transaction valued at approximately $860 million.
Under the terms of the agreement, public shareholders of Given will receive $30.00 per share in cash for each share of Given they own.
The investigation concerns whether Given’s board of directors failed to adequately shop the Company and obtain the best possible value for Given’s shareholders before entering into an agreement with Covidien.
If you own the common stock of Given and purchased your shares before December 8, 2013, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth D. Rigrodsky or Gina M. Serra at Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, New York 11530, by telephone at (888) 969-4242.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, on behalf of shareholders in states and federal courts throughout the United States.
Attorney advertising. Prior results do not guarantee a similar outcome.
I watched this trade so close to $30 all day even though the close is not until March 2014. Seems like some players are speculating a higher buyout price is going to come from another company/PE fund/hedge fund. Perhaps with FDA approval it is worth a lot more than $30/share.
I have some and the bid is only at $6.90. Last trade at $2.15 of Friday. None traded today.
Does anyone know what happens in this sort of situation?
I calculate market value at $8.15 a call.
I have some experience in options, but this situation has never happened to me.
Thanks in advance.
On Nov 14, Stockspot posted MBLX at $0.88 as its #1 ranked momentum play, saying it could quickly double in value - and it gained 41% in one day to a high of $1.24. This past Thursday, Stockspot sent an alert predicting MBLX at $1.10 was ready to breakout past $1.24 and could rapidly rise into the $1.50-$2 range.
On Friday, MBLX broke $1.24 and rapidly rose to an intraday high of $1.94 for a single day gain of 81% on huge volume of 4.5mm! MBLX was Friday's largest percentage gainer on all U.S. exchanges! At its Friday intraday high of $1.94, MBLX was up 120% since Stockspot made MBLX its #1 ranked momentum play three weeks earlier at $0.88!
Stockspot has downgraded MBLX to #5 on its list while raising Agria (GRO) to #1. GRO's two closest China agricultural peers GURE and OINK both hit new 52-week highs on Friday, for gains of 257% and 360% respectively from their 52-week lows. A gain for GRO of 257%-360% from its 52-week low of $0.65 would make GRO rise to $2.32-$2.99!
GRO this past year reduced its short-term debt by 54.4% to $39.1mm, and increased its unrestricted cash by 185% to $38.5mm! Including GRO's $26.8mm in restricted cash (pledged towards short-term debt repayment), GRO has total cash of $65.3mm and will have $26.2mm in remaining cash after repaying its short-term debt!
GRO's controlling stake in PGG Wrightson (PGW.NZ) earned GRO cash dividend payments in fiscal 2013 of $8mm! With PGW projected to double its EPS this year, Stockspot believes GRO could this year receive $10mm or $0.18 per share in cash dividend payments! A valuation of just 15X this amount will value GRO at $2.70 per share, for a HUGE gain of 81%!
GRO also wholly owns a China seeds business that grew revenues in fiscal 2013 by an ENORMOUS 98% to $17mm! A valuation of just 1X sales for China seeds would add another $0.31 to GRO's share price, and could value GRO at $3+ per share very soon! Stockspot owns 550,000 GRO shares and intends to sell at prices far above these current levels.
More Pump & Dump scams. Thanks for the warning. The evidence is in the SEC filings.
Notice how the shills don't want anyone to read the SEC filings !!!
It's a very good feeling when your gut and your investment pay off. It's also a great feeling to wake up and see one of your stocks up 30% right off the bat! Congrats everyone. I think $30 is also a good price-----and a very good start to the week. Happy Hanukah and Merry Christmas.
Sentiment: Strong Buy