ATLANTA, Dec. 1, 2008 (GLOBE NEWSWIRE) -- Holzer Holzer & Fistel, LLC is investigating possible violations of state law for, among other things, breaches of fiduciary duty in connection with a proposed buyout of Mentor Corporation ("Mentor") (NYSE:MNT) by Johnson & Johnson ("J&J") (NYSE:JNJ). Under the agreement announced today, Mentor shareholders would receive $31.00 per share in the deal, with the net value of the transaction to be approximately $1.12 billion.
The firm's investigation is focused on, among other things, whether Mentor's officers and directors violated their fiduciary duties in connection with their decision to approve the merger agreement. In particular, the firm is investigating whether Mentor's officers and directors breached their fiduciary duties of loyalty, candor and due care to Mentor's shareholders by approving the underlying transaction without public disclosure of all material facts relating to the decision to approve the transaction. Further, the investigation focuses on whether the price per share J&J will pay to Mentor shareholders is fair considering Mentor stock was trading above $31 per share as recently as June 2007.
Shareholders of Mentor common stock with questions concerning their legal rights are encouraged to contact Holzer Holzer & Fistel, LLC and its attorneys Michael I. Fistel Jr., Esq. or Marshall P. Dees, Esq. via email at mfistel@holzerlaw.com, or mdees@holzerlaw.com, or via toll-free telephone at (888) 508-6832.
Holzer Holzer & Fistel, LLC is an Atlanta, Georgia law firm that dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. More information about the firm is available through its website, www.holzerlaw.com and upon request from the firm. Holzer Holzer & Fistel, LLC has paid for the dissemination of this promotional communication, and Michael I. Fistel, Jr. is the attorney responsible for its content.