The Ademi Firm is investigating STAAR (NASDAQ: STAA) for possible breaches of fiduciary duty and other violations of law in its transaction with Alcon Inc.
In the transaction, shareholders of STAAR will receive $28 per share in cash, valuing the transaction at approximately $1.5 billion in equity value. STAAR insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for STAAR by imposing a significant penalty if STAAR accepts a competing bid. We are investigating the conduct of the STAAR board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
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