SAN DIEGO, May 16, 2018 /PRNewswire/ -- Shareholder
rights law firm Johnson Fistel, LLP has launched an investigation
into whether the board members of Abaxis, Inc. (NASDAQ: ABAX)
("Abaxis") breached their fiduciary duties in connection with the
proposed sale of the Company to Zoetis Inc. ("Zoetis"). Abaxis
develops, manufactures, markets, and sells portable blood analysis
systems for use in human or veterinary patient care settings to
provide rapid blood constituent measurements for clinicians
worldwide.
On May 16, 2018, Abaxis announced
that it had signed a definitive merger agreement with Zoetis. Under
terms of the deal, Zoetis will pay $83 in cash for each Abaxis share
outstanding.
The investigation concerns whether the Abaxis board failed to
satisfy its duties to the Company shareholders, including whether
the board adequately pursued alternatives to the acquisition and
whether the board obtained the best price possible for Abaxis
shares of common stock. Nationally recognized Johnson Fistel is investigating whether the
proposed deal represents adequate consideration, especially given
the Company's projected earnings growth.
If you are a shareholder of Abaxis and believe the
proposed buyout price is too low or you're interested in learning
more about the investigation or your legal rights and remedies,
please contact lead analyst Jim
Baker (jimb@johnsonfistel.com) at
619-814-4471. If emailing, please include a phone
number.
About Johnson Fistel,
LLP:
Johnson Fistel, LLP is a nationally
recognized shareholder rights law firm with offices in California, New
York and Georgia. The firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits. For more
information about the firm and its attorneys, please visit
http://www.johnsonfistel.com. Attorney advertising. Past results do
not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
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SOURCE Johnson Fistel, LLP