Milberg LLP and The Weiser Law Firm, P.C. today announced that on February 9, 2011, the firms filed an amended shareholder derivative and class action complaint against Beckman Coulter, Inc. ("Beckman Coulter" or the "Company") (NYSE: BEC) and its Board of Directors, amplifying the allegations in the original complaint that, among other things, sought to enjoin the Directors from selling the Company at an unfair price.
The consolidated action, captioned In re Beckman Coulter, Inc. Shareholders Litigation, Lead Case No. 30-2010-00406352, is pending in the Superior Court of the State of California, County of Orange and names as defendants members of the Company's Board of Directors (the "Current Director Defendants"), certain officers, and nominal defendant Beckman Coulter. The first case was filed on September 8, 2010, and on January 26, 2011, the Honorable Judge Nancy Wieben Stock consolidated the cases and appointed Milberg LLP and The Weiser Law Firm, P.C. as co-lead counsel.
The action seeks to remedy the defendants' breaches of fiduciary duties during the period from July 2009 to the present (the "Relevant Period") based upon their failure to reasonably oversee product quality and manufacturing processes resulting in systemic quality control issues, regulatory violations, and recalls; and by causing the Company to issue materially false and misleading statements regarding its business and financial results, which has already subjected the Company to private securities actions in federal court. The action is also brought as a class action by Plaintiffs on behalf of all other similarly situated Beckman shareholders against the Current Director Defendants for their breaches of fiduciary duties in connection with, among other things, attempting to sale the Company for what appears to be the grossly unfair price of $83.50 per share to Danaher Corp., in a transaction currently valued at $6.8 billion.
If you wish to obtain additional information about the claims asserted in this action, you may contact Co-Lead Counsel for Plaintiffs: