Law Office of Jonathan M. Stein, P.L. Investigates Possible Breach of Fiduciary Duty by the Board of Prospect Medical Holding...
23 August 2010 - 7:39PM
Business Wire
The Law Office of Jonathan M. Stein, P.L. is investigating the
Board of Directors of Prospect Medical Holdings, Inc. ("Prospect
Medical" or the "Company") (Nasdaq: PZZ) for possible breaches of
fiduciary duty and other violations of state law in connection with
their attempt to sell the Company to an affiliate of Leonard Green
& Partners, L.P. ("Leonard Green"). Under the terms of the
proposed transaction, Prospect Medical shareholders will receive
$8.50 in cash for each share of Prospect Medical common stock they
own for a total transaction value of approximately $363
million.
The investigation concerns whether the Board of Directors of
Prospect Medical breached their fiduciary duties to Prospect
Medical stockholders by failing to adequately shop the Company
before entering into this transaction and whether Prospect Medical
has disclosed all material information to shareholders about the
proposed transaction. Specifically, according to Yahoo Finance, one
analyst predicted a one-year target estimate for Prospect Medical
stock at $16.20 per share.
If you have information regarding the above investigation or own
stock in Prospect Medical and wish to obtain additional
information, please contact Jonathan M. Stein, Esq. either via
email at jstein@jonathansteinlaw.com or by telephone at (561)
961-2244.
The Law Office of Jonathan M. Stein, P.L. represents
shareholders and consumers in complex litigation, including class
action and derivative litigation. More information about the firm
is available through its website, www.jonathansteinlaw.com, and
upon request from the firm. Jonathan M. Stein is the attorney
responsible for the content of this release.
Law Office of Jonathan M. Stein, P.L. Jonathan M. Stein, Esq. (561)
961-2244 Fax: (561) 750-5964
www.jonathansteinlaw.com
120 E. Palmetto Park Rd., Suite 420 Boca Raton, FL 33432
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