Financial

Smith & Nephew pays $12M to settle stockholder lawsuit ahead of ArthroCare buyout

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, arthrocare, lawsuit, mergers, acquisitions

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.

 

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Josh Sandberg

Josh Sandberg is the President and CEO of Ortho Spine Partners and sits on several company and industry related Boards. He also is the Creator and Editor of OrthoSpineNews.

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