Kendall Law Group Investigating Psychiatric Solutions Merger for Shareholders
18 Mayo 2010 - 7:55AM
Business Wire
Kendall Law Group is investigating the Psychiatric Solutions,
Inc. (NASDAQ: PSYS) acquisition by Universal Health Services for
shareholders. The national securities litigation firm is
investigating whether a fair process was used prior to entering
into the merger agreement and whether the Board of Directors
breached their fiduciary duties by not seeking a deal that would
provide better value of the Company. PSYS shareholders with
information to contribute or questions about the firm’s
investigation are encouraged to contact the Kendall Law Group at
877-744-3728 or by email at skendall@kendalllawgroup.com.
On May 17, 2010, PSYS announced that it had entered into an
agreement to be acquired by Universal through a cash offer of
$33.74 per share, a paltry 3.4% premium over the last trading day’s
closing price. The $3.1 billion transaction is expected to move
quickly. The firm’s investigation concerns whether this
transaction, properly values the company. Additionally, the United
States Department of Justice is investigating whether senior
executives at Psychiatric Solutions violated the law when they
granted themselves more stock options before putting the company on
the auction block.
Kendall Law Group, founded by a former federal judge, includes a
former United States Attorney, prosecutors and securities lawyers
who are experienced in complex securities litigation. The firm has
been counsel in many merger and acquisition cases nationwide,
including some of the largest transactions in the United
States.
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