Robbins Umeda LLP Announces an Investigation of the Acquisition of Virtual Radiologic Corp. by Private Equity Firm Providence...
17 Mai 2010 - 8:37PM
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 Virtual Radiologic Corporation
("VRC") (NASDAQ: VRAD) in connection with their actions in causing
VRC to enter into a definitive agreement to be acquired by
Providence Equity Partners ("Providence"). If the transaction is
completed, Providence will acquire all of the outstanding common
stock of VRC for $17.25 per share in cash. The companies expect the
transaction to close in the third quarter of 2010. Upon completion,
VRC will become a private company, wholly owned by Providence.
VRC's co-founder and Chief Medical Officer, Dr. Eduard Michel,
who owns 6.0% of the Company's outstanding common shares, and
Generation Partners, which owns 25.3% of the Company's common
shares, have executed voting agreements under which they have
agreed to vote in favor of the transaction.
Robbins Umeda LLP's investigation concerns whether the Board of
Directors of VRC undertook a fair process to obtain fair
consideration for all shareholders of VRC.
If you are a shareholder of VRC and would like more information
about your rights as a shareholder, please contact attorney Lauren
Levi at 800-350-6003 or by e-mail at llevi@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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