Cardiovascular Systems, Inc.

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Ademi LLP is investigating CSI (NASDAQ: CSI) for possible breaches of fiduciary duty and other violations of law in its transaction with Abbott.

Ademi LLP alleges CSI’s financial outlook and prospects are excellent and yet CSI shareholders will receive only $20 per common share at a total expected equity value of approximately $890 million. The transaction agreement unreasonably limits competing bids for CSI by imposing a significant penalty if CSI accepts a superior bid. CSI insiders will receive substantial benefits as part of change of control arrangements.

We are investigating the conduct of CSI’s board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for CSI.