Recent Securities Litigations
Wright Medical Group N.V. (NASDAQ: WMGI)
According to the Complaint, Wright Medical Group N.V. is a recognized leader of surgical solutions for the upper extremity, lower extremity, and biologics markets, three of the fastest growing segments in orthopedics.
This action stems from a proposed transaction announced on November 4, 2019, pursuant to which Wright Medical Group N.V. will be acquired by Stryker Corporation.
On November 4, 2019, Wright Medical’s Board of Directors caused the Company to enter into an agreement and plan of merger with Stryker. Pursuant to the terms of the Merger Agreement, Stryker commenced a tender offer to purchase all of Wright Medical’s outstanding common stock for $30.75 per share in cash. The Tender Offer is set to expire on February 27,2020.
On December 13, 2019, Defendants filed a Solicitation/Recommendation Statement with the United States Securities and Exchange Commission in connection with the Proposed Transaction. The Complaint alleges that the Solicitation Statement omits material information with respect to the Proposed Transaction, which renders the Solicitation Statement false and misleading.