Law Offices of Howard G. Smith Announces Investigation of Assisted Living Concepts Inc.
February 26 2013 - 7:42PM
Business Wire
Law Offices of Howard G. Smith announces that it is
investigating potential claims against the Board of Directors of
Assisted Living Concepts Inc. (“ALC” or the “Company”) (NYSE: ALC)
related to the proposed acquisition of the Company by TPG, a global
private investment firm. The transaction is valued at approximately
$278 million, and under the terms of the acquisition ALC’s Class A
shareholders will receive $12.00 per share while Class B
shareholders will receive $12.90 per share.
This investigation concerns whether the Board of Directors of
ALC breached their fiduciary duties to stockholders by failing to
adequately shop the Company before agreeing to enter into the
proposed transaction, and whether the Company has disclosed all
material information to shareholders about the transaction. The
Company has seen substantial recent growth.
If you are a shareholder of ALC, if you have information or
would like to learn more about our investigation, 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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