The Briscoe Law Firm and Powers Taylor, LLP Announce Investigation of American Medical Alert Corp.
26 Septiembre 2011 - 2:20PM
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 American Medical Alert
Corp. (“American Medical” or “AMAC”) (NASDAQ: AMAC) by Tunstall
Healthcare Group Limited for American Medical shareholders. Under
the proposed buyout, American Medical shareholders will receive
only $8.55 in cash for each share of American Medical/AMAC stock
owned.
If you are an affected investor, and you want to learn more
about the lawsuit 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, (214) 706-9314, 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 $82.3 million. The transaction
is expected to be completed by the end of the fourth quarter of
2011.
“We are investigating the fairness of the proposed transaction
to American Medical shareholders, whether the shareholders are
being underpaid for their stock, and whether American Medical’s
Board of Directors acted in the shareholders’ best interest,” said
shareholder rights attorney Willie Briscoe. In particular, although
the acquisition price represents a reported premium of 50% over
American Medical’s closing price the day before the acquisition
announcement, as recently as September 20, 2011, American Medical
shares traded as high as $6.20 per share. “Based on these and other
factors, we are concerned the transaction undervalues the inherent
value of American Medical stock and that Tunstall Healthcare may be
underpaying the shareholders. Our anticipated lawsuit will seek to
obtain the highest share price for all shareholders,” said Willie
Briscoe.
The Briscoe Law Firm, PLLC is a full service business litigation
and shareholder rights advocacy firm with more than 20 years of
experience in complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that
handles a variety of complex business litigation matters, including
claims of investor and stockholder fraud, shareholder oppression,
shareholder derivative suits, and security class actions.
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