NEW YORK, April 27, 2011 (GLOBE NEWSWIRE) -- Pomerantz Haudek Grossman & Gross LLP is investigating potential claims on behalf of investors of Synthes, Inc. ("Synthes" or the "Company") concerning the proposed acquisition of Synthes by Johnson & Johnson ("J&J") in a transaction valued at $21.3 billion.
The investigation concerns whether the board of directors breached their fiduciary duties by failing to maximize shareholder value. Each share of Synthes common stock will be exchanged for 55.65 Swiss francs ($63.48) in cash, with the remainder of the deal being paid for in J&J stock. The ultimate value of the transaction necessarily depends on fluctuations in J&J stock and currency exchange rates.
Synthes shareholders seeking more information about this acquisition are advised to contact Gustavo Bruckner, Esq. at gfbruckner@pomlaw.com or 212-661-1100 or toll free at 888-476-6529, ext. 302. Shareholders may also contact Rachelle R. Boyle at rrboyle@pomlaw.com or 212-661-1100 or 888-476-6529, ext. 237.
The Pomerantz Firm, with offices in New York, Chicago, and Washington, D.C., is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
CONTACT: Rachelle R. Boyle Pomerantz Haudek Grossman & Gross LLP 888-476-6529 (ext. 237) 212-661-1100 (ext. 237) rrboyle@pomlaw.com