Levi & Korsinsky, LLP Investigates Possible Breach of Fiduciary Duty by the Board of Health Grades Inc. - HGRD
Levi & Korsinsky is investigating the Board of Directors of Health Grades Inc. ("Health Grades" or the "Company") (NasdaqGS: HGRD) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to an affiliate of Vestar Capital Partners V, L.P. ("Vestar").
- New York, NY (1888PressRelease) August 03, 2010 - Under the terms of the transaction, Health Grades shareholders will receive $8.20 in cash for each Health Grades share of common stock they own for a total transaction value of approximately $294 million.
The investigation concerns whether the Health Grades Board of Directors breached their fiduciary duties to Health Grades stockholders by failing to adequately shop the Company before entering into this transaction and whether Vestar is underpaying for Health Grades shares, thus unlawfully harming Health Grades stockholders. In particular, the offer price is only a small premium over the $7.89 price the Company's shares traded at as recently as May 10, 2010 and the mean price target for Health Grades stock set by analysts is $8.67 per share with at least one analyst setting a price target at $9.00 per share.
If you own common stock in Health Grades and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at jlevi ( @ ) zlk dot com or by telephone at (212) 363-7500 or visit http://www dot zlk dot com/health-grades-hgrd dot html dot
Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation.
CONTACT:
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 15th Floor
New York, NY 10004
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
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