April 10, 2014 by Brad Perriello
Smith & Nephew agrees to pay $12 million to settle a stockholder lawsuit filed to block its $1.7 billion buyout of ArthroCare.
Smith & Nephew (FTSE:SN, NYSE:SNN) cleared 1 hurdle to its $1.7 billion acquisition of ArthroCare (NSDQ:ARTC) by agreeing to pay $12 million to settle a stockholder lawsuit seeking to block the deal.
ArthroCare, Smith & Nephew and the deal’s backers “vigorously denied” any wrongdoing alleged in the lawsuit, which was consolidated from 8 complaints lodged shortly after the deal was announced in February, according to a regulatory filing.
