NEW YORK, May 19, 2009 (GLOBE NEWSWIRE) -- The law firm of Levi & Korsinsky LLP ("L&K") has initiated an investigation into the circumstances surrounding the acquisition of VNUS Medical Technologies, Inc. ("VNUS" or the "Company") (Nasdaq:VNUS) by Covidien, Ltd. L&K is investigating breaches of fiduciary duty and other violations of state law by the Board of Directors of VNUS arising out of their agreement to sell the Company to Covidien for $29 per share. The transaction appears to be unfair given that, among other things, the Company's business is on an upswing, enjoying quarterly earnings growth year-over-year of 284.4%, quarterly revenue growth year-over-year of 32.3% and revenue of approximately $101 million. The price offered in the proposed transaction appears to offer insufficient premium to shareholders.
If you own common stock in VNUS and wish to obtain additional information, please contact us at the number listed below or visit http://www.zlk.com/vnus.html
L&K has extensive experience in prosecuting investor securities litigation involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation.