April 28, 2016 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of St. Jude Medical, Inc. (NYSE:STJ), was announced concerning whether the takeover of St. Jude Medical, Inc. by Abbott is unfair to NYSE:STJ stockholders.

The investigation by a law firm concerns whether certain officers and directors of St. Jude Medical, Inc breached their fiduciary duties owed to NYSE:STJ investors in connection with the proposed acquisition.

On April 28, 2016, Abbott and St. Jude Medical, Inc. (NYSE:STJ) announced an agreement for Abbott to acquire St. Jude Medical, Inc. Under the agreement, St. Jude Medical, Inc. shareholders will receive $46.75 in cash and 0.8708 shares of Abbott common stock, representing total consideration of approximately $85 per share.

However, the investigation concerns whether the offer is unfair to NYSE:STJ stockholders. More specifically, the investigation concerns whether the St. Jude Medical Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.