NYSE
STJ

St. Jude Medical, Inc.

Shareholder Corporation Litigation

Rigrodsky & Long, P.A. Announces Investigation Of St. Jude Medical, Inc. (NYSE: STJ) Buyout

Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of St. Jude Medical, Inc. (“St. Jude” or the “Company”) (NYSE: STJ) regarding possible breaches of fiduciary duties and other violations of law related to the Company’s entry into an agreement to be acquired by Abbott Laboratories (“Abbott”) (NYSE: ABT), in a transaction valued at approximately $25 billion.

Under the terms of the agreement, shareholders of St. Jude will receive $46.75 in cash and 0.8708 shares of Abbott common stock for each share of St. Jude they own.  Based on Abbott’s closing stock price on April 27, 2016, St. Jude shareholders would have received compensation valued at approximately $84.92 per share.

The investigation concerns whether St. Jude’s board of directors failed to adequately shop the Company and obtain the best possible value for St. Jude’s shareholders before entering into an agreement with Abbott.

If you own the common stock of St. Jude and purchased your shares before April 28, 2016, 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., 2 Righter Parkway, Suite 120, Wilmington, DE 19803, by telephone at (888) 969-4242; by e-mail to info@rl-legal.com.

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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