SAN DIEGO, Aug. 9, 2016 /PRNewswire/ -- Shareholder rights
law firm Johnson & Weaver, LLP has launched an investigation
into whether the board members of Press Ganey Holdings, Inc. (NYSE:
PGND) breached their fiduciary duties in connection with the
proposed sale of the Company to private equity group EQT. Press
Ganey provides patient experience and caregiver measurement,
performance analytics, and strategic advisory solutions for
healthcare organizations in the United
States.
On August 9, 2016, Press Ganey
announced it had signed a definitive merger agreement with EQT.
Under the terms of the agreement, Press Ganey stockholders will
receive $40.50 a share in cash.
The investigation concerns whether the Press Ganey board failed
to satisfy their duties to the Company shareholders, including
whether the board adequately pursued alternatives to the
acquisition and whether the board obtained the best price possible
for Press Ganey shares of common stock. Nationally recognized
Johnson & Weaver is investigating whether the proposed deal
price represents adequate consideration, especially given one Wall
Street analyst has a $46.00 price
target on the stock. Press Ganey's 52 week high was
$41.31.
If you are a shareholder of Press Ganey and believe the
proposed buyout price is too low or you're interested in learning
more about the investigation or your legal rights and remedies,
please contact lead analyst Jim
Baker (jimb@johnsonandweaver.com) at 619-814-4471. If
emailing, please include a phone number where you can be
reached.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder
rights law firm with offices in California, New
York and Georgia. The firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits. For more
information about the firm and its attorneys, please visit
http://www.johnsonandweaver.com. Attorney advertising. Past results
do not guarantee future outcomes.
Contact:
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
jimb@johnsonandweaver.com
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SOURCE Johnson & Weaver, LLP