Case Page

 

Case Status:    ONGOING    
On or around 09/11/2018 (Ongoing date of last review)

Filing Date: June 27, 2018

According to the Complaint, Abaxis, Inc. (“Abaxis” or the “Company”) is a worldwide developer, manufacturer, and marketer of portable blood analysis systems that are used in a broad range of medical specialties in human or veterinary patient care to provide clinicians with rapid blood constituent measurements. The Company provides leading edge technology and tools that support best medical practices, enabling physicians and veterinarians to respond to the health needs of their clients at the point of care while operating economical and profitable practices.

This action stems from a proposed transaction announced on May 16, 2018 (the “Proposed Transaction”), pursuant to which Abaxis will be acquired by Zoetis, Inc. (“Parent”) and its wholly-owned subsidiary, Zeus Merger Sub, Inc. (“Merger Sub,” and together with Parent, “Zoetis”).

On May 15, 2018, Abaxis’s Board of Directors (the “Board” or “Individual Defendants”) caused the Company to enter into an agreement and plan of merger (the “Merger Agreement”) with Zoetis. Pursuant to the terms of the Merger Agreement, shareholders of Abaxis will receive $83.00 in cash for each share of Abaxis they own.

On June 5, 2018, Defendants filed a proxy statement (the “Proxy Statement”) with the United States Securities and Exchange Commission (“SEC”) in connection with the Proposed Transaction. The Complaint alleges that the Proxy Statement omits material information with respect to the Proposed Transaction, which renders the Proxy Statement false and misleading.

COMPANY INFORMATION:

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

SECURITIES INFORMATION:

Ticker Symbol: ABAX
Company Market: NASDAQ
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: N.D. California
DOCKET #: 18-CV-03834
JUDGE: Hon. William Alsup
DATE FILED: 06/27/2018
CLASS PERIOD START: 05/16/2018
CLASS PERIOD END: 06/27/2018
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Rigrodsky & Long, P.A.
    919 N. Market Street, Suite 980, Rigrodsky & Long, P.A., DE 19803
    302.295.5310 302.295.5310 · info@rigrodskylong.com
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