Thoratec Corporation (NASDAQ:THOR) Investor Lawsuit Over Alleged Wrongdoing In Proposed Takeover By St. Jude Medical

If you purchased shares of Thoratec Corporation (NASDAQ:THOR) and currently hold any of those NASDAQ:THOR shares, you have certain options and you should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to, or call us at (858) 779-1554.
Company Name(s): 
Case Name: 
Thoratec Deal Case 08/10/2015
Case Status: 
Lawsuit Filed
Affected Securities
Lawsuit Overview
Type of Lawsuit: 
Mergers and Acquisition
Date Filed: 

August 11, 2015 (Shareholders Foundation) - An investor who currently holds shares of Thoratec Corporation (NASDAQ:THOR), filed a lawsuit in effort to halt the proposed takeover of Thoratec Corporation by St. Jude Medical for $63.50 per share.

The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:THOR stockholders by agreeing to sell Thoratec Corporation too cheaply via an unfair process to St. Jude Medical.

On July 22, 2015, St. Jude Medical (NYSE:STJ) and Thoratec Corporation (NASDAQ:THOR) announced that the Boards of Directors of both companies have unanimously approved an agreement under which St. Jude Medical will acquire all of the outstanding shares of Thoratec for $63.50 per share in a cash transaction valued at approximately $3.4 billion, net of cash acquired.

However, the plaintiff claims that the proposed consideration NASDAQ:THOR shareholders will receive is grossly inadequate and undervalues Thoratec Corporation. The plaintiff alleges that the $63.50-offer does not take into account Thorate’s recent growth through strategic acquisitions and novel product developments. In addition, the plaintiff claims that the process is also unfair to NASDAQ:THOR stockholders.