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Case Status:    DISMISSED    
On or around 11/23/2016 (Notice of voluntarily dismissal)

Filing Date: June 30, 2016

According to the Complaint, on April 28, 2016, St. Jude and Abbott issued a joint press release announcing entry into an Agreement and Plan of Merger dated April 27, 2016 (the “Merger Agreement”) to sell St. Jude to Abbott, whereby St. Jude shareholders will receive $46.75 in cash and 0.8708 shares of Abbott common stock for each share of St. Jude common stock they own (the “Merger Consideration”). According to the joint press release, the Merger Consideration is purportedly valued at $85.00 per share, based on Abbott’s 5-day volume weighted average share price of $43.93 as of April 26, 2016. The Proposed Transaction is purportedly valued at approximately $25 billion.

The Complaint alleges on June 13, 2016, Abbott filed a Form S-4 Registration Statement with the U.S. Securities and Exchange Commission (“SEC”) (the “Registration Statement”) that omitted or misrepresented material information regarding the Proposed Transaction in violation of Sections 14(a) and 20(a) of the Exchange Act and in contravention of the Individual Defendants’ disclosure duties under state law. The Registration Statement failed to disclose material information regarding: (i) the process by which the Board entered into the Proposed Transaction; (ii) the key data and inputs underlying the financial valuation analyses that purport to support the fairness opinion (“Fairness Opinion”) provided to the Board by its financial advisor, Guggenheim Securities, LLC (“Guggenheim”); and (iii) certain financial projections prepared by St. Jude and relied upon by Guggenheim in issuing its Fairness Opinion regarding the Proposed Transaction.

This case was voluntarily dismissed on November 23, 2016.

COMPANY INFORMATION:

Sector: Healthcare
Industry: Medical Equipment & Supplies
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: STJ
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: D. Minnesota
DOCKET #: 16-CV-02275
JUDGE: Hon. Wilhelmina M. Wright
DATE FILED: 06/30/2016
CLASS PERIOD START: 04/27/2016
CLASS PERIOD END: 06/30/2016
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Lockridge Grindal Nauen P.L.L.P.
    100 Washington Avenue S. Suite 2200, Lockridge Grindal Nauen P.L.L.P., MN 55401
    612.339.6900 612.339.6900 ·
  2. WeissLaw LLP
    551 Fifth Avenue, Suite 1600, WeissLaw LLP, NY 10176
    212.682.3025 212.682-3010 · info@wllawny.com
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