Glancy Binkow & Goldberg LLP Continues Investigation of American Medical Alert Corp.
September 30 2011 - 3:14PM
Business Wire
Glancy Binkow & Goldberg LLP is continuing its investigation
of potential claims against the Board of Directors of American
Medical Alert Corp. (“American Medical” or the “Company”)
(Nasdaq:AMAC) related to the proposed acquisition of the Company by
Tunstall Healthcare Group Limited. The transaction is valued at
approximately $80 million or $8.55 per share.
The investigation concerns whether the Board of Directors of
American Medical 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. Its
share price has sky rocketed from $5.00 on December 2, 2010 to
$6.15 on January 10, 2011. Additionally, it appears that certain
officers and directors of the Company have secured prestigious
post-merger positions with the Company. For example, Jack Rhian
will continue to serve as President and CEO of the post-merger
Company.
If you are a shareholder of American Medical, 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 Louis Boyarsky, Esquire, Glancy Binkow
& Goldberg LLP, 1801 Avenue of the Stars, Suite 311, Los
Angeles, CA 90067, by telephone at (310) 201-9150 or Toll Free at
(888) 773-9224 or by email to shareholders@glancylaw.com.
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