The Law Office of Robbins Umeda LLP Announces an Investigation of the Acquisition of Prospect Medical Holdings, Inc. by an En...
17 Août 2010 - 1:12AM
Business Wire
Robbins Umeda LLP has commenced an investigation into possible
breaches of fiduciary duty and other violations of state law by
members of the Board of Directors of Prospect Medical Holdings,
Inc. ("Prospect" or the "Company") (NASDAQ: PZZ) in connection with
their efforts to sell Prospect to an entity sponsored by Leonard
Green & Partners, L.P. ("Leonard Green"). If the transaction is
completed, Prospect shareholders will receive $8.50 in cash for
each share of Prospect stock they hold.
Robbins Umeda LLP's investigation concerns whether the Board of
Directors of Prospect undertook a fair process to obtain fair
consideration for all shareholders of Prospect. Specifically, our
investigation concerns whether the Company's Board of Directors
breached their fiduciary duties to Prospect shareholders by failing
to adequately shop the Company before entering into the transaction
with an entity sponsored by Leonard Green. Notably, Prospect
reported revenues of $116.7 million for the second quarter of 2010,
a 36% increase from $86.1 million in the prior year quarter.
If you are a shareholder of Prospect, plan to continue to hold
your shares, and would like more information about your rights as a
shareholder, please contact attorney Gregory E. Del Gaizo at
800-350-6003 or by e-mail at info@robbinsumeda.com.
Robbins Umeda LLP is a California-based law firm with
significant experience representing investors in merger-related
shareholder class actions, shareholder derivative actions, and
securities fraud class actions. For more information about the
firm, please go to http://www.robbinsumeda.com.
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