The Briscoe Law Firm and Powers Taylor, LLP Announce Investigation of Allied Healthcare International Inc.
01 Agosto 2011 - 11:31AM
Business Wire
Former United States Securities and Exchange Commission attorney
Willie Briscoe and the securities litigation firm of Powers Taylor,
LLP are investigating the acquisition of Allied Healthcare
International Inc. (“Allied Healthcare” or “AHCI”) (NASDAQ: AHCI)
on behalf of shareholders. Allied Healthcare recently entered into
an acquisition agreement that will pay Allied Healthcare
shareholders $3.90 in cash for each share of Allied Healthcare/AHCI
owned.
If you are an affected shareholder, and you want to learn more
about the investigation or join the action, contact Patrick Powers
at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at
patrick@powerstaylor.com, or Willie Briscoe at The Briscoe Law
Firm, PLLC toll free (877) 397-5991, or via email at
WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.
The definitive acquisition agreement involves an all cash
transaction valued at approximately $175 million. The transaction
is expected to be completed in the fourth calendar quarter of
2011.
“We are investigating the fairness of the proposed transaction
to Allied Healthcare shareholders, whether the shareholders are
being underpaid for their stock, and whether Allied Healthcare’s
Board of Directors acted in the shareholders’ best interests,” said
shareholder rights attorney Willie Briscoe. In particular, although
Allied Healthcare reported that the acquisition price represents a
59% premium over AHCI’s closing price the day prior to the
announcement, in the most recent quarter, Allied Healthcare
reported a book value of $3.66 per share and the company has
recently reported strong financial results. “Based on these and
other factors, we are additionally investigating whether the
transaction undervalues the stock, and our anticipated lawsuit will
seek to obtain the highest share price for all shareholders,” said
Willie Briscoe.
The Briscoe Law Firm is a full service business litigation and
shareholder rights advocacy firm with more than 20 years of
experience in complex litigation matters.
Powers Taylor, LLP is a boutique litigation firm that handles a
variety of complex business litigation matters nationwide,
including claims of investor and stockholder fraud, shareholder
oppression, shareholder derivative suits, and security class
actions.
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