The Law Office of Vincent Wong Announces Investigation of Possible Breach of Fiduciary Duty by Board of Health Grades Inc. - HGRD
The Law Office of Vincent Wong is investigating the Board of Directors of Health Grades Inc. (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) July 30, 2010 - Under the terms of the deal, 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. 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 about this investigation and what is being done to advance the shareholders' interests, please contact Vincent Wong, Esq. directly, via email at vw ( @ ) wongesq dot com, by telephone at 212 dot 584 dot 2740, or visit http://www dot wongesq dot com/health-grades dot html dot
Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights.
CONTACT:
Vincent Wong, Esq.
39 East Broadway
Suite 304
New York, NY 10002
Tel. 212.584.2740
Fax. 866.367.6510
E-Mail: vw ( @ ) wongesq dot com
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