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DJO sued over ReAble deal

This article was originally published in The Gray Sheet

Executive Summary

Shareholders of orthopedic device maker DJO file class action lawsuit in San Diego state court Aug. 31 seeking an injunction on the company's pending $1.6 billion sale to ReAble Therapeutics, claiming that the price is inadequate. The complaint alleges that DJO and its board approved the sale in July without shopping the firm to other potential buyers or fully informing themselves of its value (1"The Gray Sheet" July 23, 2007, p. 6). DJO says it will "vigorously oppose" the allegations, although it expects additional suits with similar claims

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