Law Office of Brodsky & Smith, LLC Announces Investigation of Assisted Living Concepts, Inc.
March 01 2013 - 9:00PM
Business Wire
Law office of Brodsky & Smith, LLC announces that it is
investigating potential claims against the Board of Directors of
Assisted Living Concepts, Inc. (“Assisted Living” or the “Company”)
(NYSE: ALC) relating to the proposed acquisition by private
investment firm TPG (“TPG”).
Under the terms of the transaction, Assisted Living shareholders
will receive only $12.00 in cash for each share of Class A Assisted
Living stock they own and $12.90 in cash for each share of Class B
Assisted Living stock they own. The investigation concerns possible
breaches of fiduciary duty and other violations of state law by the
Board of Directors of Assisted Living for not acting in the
Company’s shareholders' best interests in connection with the sale
process to TPG. The transaction may undervalue the Company and will
result in a loss for many long term shareholders. For example
Assisted Living stock traded at $14.05 as recently as August 2,
2012 and $19.17 on May 3, 2012.
If you own shares of Assisted Living stock and wish to discuss
the legal ramifications of the proposed transaction, or have any
questions, you may e-mail or call the law office of Brodsky &
Smith, LLC who will, without obligation or cost to you, attempt to
answer your questions. You may contact Jason L. Brodsky, Esquire or
Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza,
Suite 602, Bala Cynwyd, PA 19004, by e-mail at
investorrelations@brodsky-smith.com visiting
http://brodsky-smith.com/547-alc-assisted-living-concepts-inc.html,
by calling toll free 877-LEGAL-90.
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