Law Offices of Howard G. Smith Announces Investigation on Behalf of Shareholders of Virtual Radiologic Corporation
18 Mayo 2010 - 8:00PM
Business Wire
Law Offices of Howard G. Smith announces that it is
investigating potential claims against the board of directors of
Virtual Radiologic Corporation (“vRad” or the “Company”)
(NASDAQ:VRAD) related to the Company’s agreement to be acquired by
Providence Equity Partners (“Providence”), private equity firm. The
proposed transaction is valued at approximately $294 million.
Under the terms of the definitive agreement entered into by the
parties, Providence will acquire all of the outstanding common
stock of vRad for $17.25 per share in cash. Upon completion of the
transaction, vRad will become a private company, wholly owned by
Providence. The transaction is expected to be completed in the
third quarter of 2010. The investigation concerns possible breaches
of fiduciary duty and other violations of law related to approval
of the transaction by vRad’s board of directors.
If you own shares of vRad, 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.
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