Buyout of PHC Investigated by Tripp Levy PLLC

Tripp Levy PLLC, a leading national securities law firm, announces that it has been retained to represent PHC shareholders in connection with the proposed acquisition of it by Acadia Healthcare in a stock-for-stock transaction. The transaction will be a stock for stock exchange except for payments to PHC shareholders for fractional shares and $5 million of merger consideration payable to Class B holders of PHC's privately held securities.

The lawsuit concerns, among other things, whether the consideration to be paid to PHC shareholders is grossly unfair, inadequate, and substantially below the fair or inherent value of the company. Indeed, analysts have projected that the company is worth at least $5 per share. Further, the combined company will have pro forma net funded indebtedness of approximately $285 million. The lawsuit challenges the board of directors in connection with whether they breached their fiduciary duties to shareholders by buying the company for themselves.

If you own PHC common stock and you wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:

Tripp Levy

Tripp Levy PLLC

125 East 82nd Street

9th Floor

New York, New York

Toll Free: 877-772-3975

Email: contact@tripplevy.com

Tripp Levy PLLC is a national law firm that specializes in mergers & acquisitions, takeover litigation, shareholder rights, and corporate governance matters in state and federal courts throughout the United States.

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Renasant (AMEX:PHC)
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