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| Protecting the Rights of Shareholders and Consumers |
Aspect Medical Systems, Inc. Securities Litigation
Aspect Medical Systems, Inc. (NasdaqGS: ASPM) shareholder litigation over alleged unfair takeover
On September 28, 2009, Aspect Medical Systems, Inc. (“Aspect Medical” or the “Company”) announced that it agreed to sell the
Company to Covidien PLC (NYSE:COV). Under the terms of the agreement, Aspect Medical shareholders will receive $12.00 in
cash for each share of Aspect Medical common stock they own.
For the year ending December 31, 2008, the Company reported $11.1 million in net income as compared to $2.2 million for the
year ended December 31, 2007. The investigation concerns whether the Aspect Medical Board of Directors breached their
fiduciary duties to Aspect Medical shareholders by agreeing to sell the Company at an unfair price and by agreeing to a no
solicitation provision and a $8 million termination fee that will all but ensure that no superior offer will ever be forthcoming.
On September 28, 2009, Aspect Medical Systems, Inc. (“Aspect Medical” or the “Company”) announced that it agreed to sell the
Company to Covidien PLC (NYSE:COV). Under the terms of the agreement, Aspect Medical shareholders will receive $12.00 in
cash for each share of Aspect Medical common stock they own.
For the year ending December 31, 2008, the Company reported $11.1 million in net income as compared to $2.2 million for the
year ended December 31, 2007. The investigation concerns whether the Aspect Medical Board of Directors breached their
fiduciary duties to Aspect Medical shareholders by agreeing to sell the Company at an unfair price and by agreeing to a no
solicitation provision and a $8 million termination fee that will all but ensure that no superior offer will ever be forthcoming.
