Read also - Everything you need to know about the Stryker-Wright acquisition
Shareholder sues to block Stryker’s $4B purchase of Wright Medical (MassDevice)
A Wright Medical (NSDQ:WMGI) shareholder has filed a proposed class action lawsuit to block the company’s $4.08 billion acquisition by Stryker (NYSE:SYK).
Shareholder John Thompson filed the lawsuit this week in federal court in Delaware against Wright Medical, its board of directors and Stryker, claiming that the solicitation statement that asks shareholders to approve the merger is incomplete and therefore misleading.
In particular, the claim says that the solicitation statement fails to disclose Wright’s financial projections, material information contained in Guggenheim Securities’ financial analysis of the proposed merger, and information about Wright’s agreement with J.P. Morgan Securities, which is also acting as a financial advisor for the merger.
“The omissions in the solicitation statement are material in that a reasonable shareholder will consider them important in deciding whether to tender their shares in connection with the proposed transaction,” the lawsuit says. “In addition, a reasonab...
