Law Offices of Howard G. Smith Announces Investigation On Behalf of Shareholders of Emergent Group Inc., in Connection with t...
February 07 2011 - 6:30PM
Business Wire
Law Offices of Howard G. Smith announces that it is
investigating potential claims against the board of directors of
Emergent Group Inc. (“Emergent” or the “Company”) (AMEX:LZR)
related to the Company’s agreement to be acquired by Universal
Hospital Services, Inc. (“Universal”). The proposed transaction is
valued at approximately $70 million, including assumed debt.
Under the terms of the definitive merger agreement entered into
by the parties, Universal will make a cash tender offer to acquire
all outstanding shares of Emergent for $8.46 per share. Emergent
stock traded as high as $8.65 per share as recently as December 14,
2010. The tender offer is expected to commence in early March 2011,
and the transaction is expected to close within 45 to 90 days. If
the transaction is completed, the Company will be merged into a
wholly owned subsidiary of Universal. The investigation concerns
possible breaches of fiduciary duty and other violations of law
related to approval of the proposed transaction by Emergent’s board
of directors.
If you are a shareholder of Emergent, if you have information or
would like to learn more about these claims, or if you wish to
discuss these matters or have any questions concerning this
announcement or your rights or interests with respect to these
matters, please contact Howard G. Smith, Esquire, of Law Offices of
Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem,
Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at
(888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or
visit our website at http://www.howardsmithlaw.com.
Emergent Grp. Inc. Common Stock (AMEX:LZR)
Historical Stock Chart
From Aug 2024 to Sep 2024
Emergent Grp. Inc. Common Stock (AMEX:LZR)
Historical Stock Chart
From Sep 2023 to Sep 2024
Real-Time news about Emergent Grp. Inc. Common Stock (American Stock Exchange): 0 recent articles
More Law Offices of Howard G. Smith News Articles