January 02, 2014
Bernstein Liebhard LLP is investigating whether the Board of Directors of Patient Safety Technologies, Inc. (“PST” or the “Company”) (OTCBB:PSTX, OTCQB:PSTX) breached its fiduciary duty to its shareholders in agreeing to sell PST to Stryker Corporation (NYSE: SYK).
Under the terms of the agreement, PST shareholders will receive $2.22 in cash for each share they own. The investigation is focused on the potential unfairness of the price to PST shareholders and the process by which the PST Board of Directors considered and approved the transaction.
Bernstein Liebhard LLP has pursued hundreds of securities, consumer and shareholder rights cases and recovered over $3 billion for its clients. It has been named to The National Law Journal’s “Plaintiffs’ Hot List” in each of the last eleven years.