Court dismisses Synthes shareholder claim that Wyss rushed J&J acquisition and left value on the table

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Synthes Investor Suits Over J&J Takeover Dismissed (Bloomberg)
Synthes Inc. investors can’t proceed with claims that they were shortchanged by Johnson & Johnson (JNJ)’s $21.3 billion takeover of the medical-device maker, a judge concluded.
Delaware Chancery Court Judge Leo Strine rejected shareholder lawsuits claiming that Hansjoerg Wyss, Synthes’s chairman and controlling shareholder, engineered the J&J transaction to meet his retirement needs rather than to get the highest price for the firm, a maker of devices used to treat trauma victims.
The investor lawsuits don’t provide eno...

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