An investigation on behalf of current investors Micrus Endovascular Corp. (NASDAQ:MEND) over possible breaches of fiduciary duty by certain members of the Micrus Endovascular Corp. board of directors in connection with the takeover attempt by Johnson & Johnson was announced.

Micrus Endovascular Corporation, located in San Jose, CA, develops, manufactures and markets implantable and disposable medical devices used in the treatment of cerebral vascular diseases. Micrus Endovascular Corporation reported in 2007 Total Revenue of $69.21million, in 2008 $78.20million, and in 2009 $91.09million.

On Monday, July 12, 2010, Micrus Endovascular Corporation (NASDAQ: MEND) and Johnson & Johnson (NYSE: JNJ), announced a agreement whereby Micrus Endovascular will be acquired in a cash for stock exchange. Under the terms of the agreement, Micrus Endovascular stockholders will receive at closing $23.40 for each outstanding Micrus Endovascular (MEND) share. The value of the transaction as of the anticipated closing date is estimated to be approximately $480 million. According to Micrus Endovascular its board of directors approved the transaction.

Shares of Micrus Endovascular Corporation (MIND) traded before the news at $22.20 per share, and at $23.17 per share after the announcement.

The investigation by a law firm concerns whether the Micrus Endovascular Corp Board of Directors breached their fiduciary to Micrus Endovascular Corporation (NASDAQ:MEND) stockholders by failing to adequately shop the Company prior to supporting the agreement, whether the Board of Directors breached their fiduciary duties by not seeking a deal that would provide better Micrus Endovascular Corp (MEND), and whether Johnson & Johnson is underpaying Micrus Endovascular Corporation (MEND), thus unlawfully harming MEND stockholders.