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| Protecting the Rights of Shareholders and Consumers |
I-Flow Corp. Securities Litigation
I-Flow Corp. (NasdaqGM: IFLO) shareholder litigation over alleged unfair takeover
On October 9, 2009, I-Flow Corp. (“I-Flow” or the “Company”) announced that it agreed to sell the Company to Kimberly-Clark
Corp. Under the terms of the agreement, I-Flow shareholders will receive $12.65 in cash for each share of I-Flow common stock
they own for a total transaction value of approximately $276 million.
The investigation concerns whether the I-Flow Board of Directors breached their fiduciary duties to I-Flow shareholders by
agreeing to sell the Company at an unfair price given that the Company's shares traded at $12.95 as recently as October 2, 2009
and that the Board agreed to a no-solicitation provision and a $12,836,000 termination fee that will all but ensure that no superior
offer will ever be forthcoming.
On October 9, 2009, I-Flow Corp. (“I-Flow” or the “Company”) announced that it agreed to sell the Company to Kimberly-Clark
Corp. Under the terms of the agreement, I-Flow shareholders will receive $12.65 in cash for each share of I-Flow common stock
they own for a total transaction value of approximately $276 million.
The investigation concerns whether the I-Flow Board of Directors breached their fiduciary duties to I-Flow shareholders by
agreeing to sell the Company at an unfair price given that the Company's shares traded at $12.95 as recently as October 2, 2009
and that the Board agreed to a no-solicitation provision and a $12,836,000 termination fee that will all but ensure that no superior
offer will ever be forthcoming.
