WILMINGTON, Del., Jan. 21, 2014 /PRNewswire/ -- Rigrodsky & Long, P.A.:
- Do you own shares of Patient Safety Technologies, Inc. (OTC QB: PSTX)?
- Did you purchase any of your shares prior to December 31, 2013?
- Do you think the proposed buyout price is too low?
- Do you want to discuss your rights?
Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of Patient Safety Technologies, Inc. ("PST" or the "Company") (OTC QB: PSTX) regarding possible breaches of fiduciary duties and other violations of law related to the Company's entry into an agreement to be acquired by Stryker Corporation ("Stryker") (NYSE: SYK), in a transaction valued at approximately $120 million.
Click here to learn more: http://www.rigrodskylong.com/investigations/patient-safety-technologies-inc-pstx.
Under the terms of the agreement, public shareholders of PST will receive $2.22 per share in cash for each share of PST they own.
The investigation concerns whether PST's board of directors failed to adequately shop the Company and obtain the best possible value for PST's shareholders before entering into an agreement with Stryker. According to Yahoo! Finance, at least one analyst has issued a price target for PST stock at $2.50 per share.
If you own the common stock of PST and purchased your shares before December 31, 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; by e-mail to email@example.com, or at: http://www.rigrodskylong.com/investigations/patient-safety-technologies-inc-pstx.
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.
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