Law Office of Jonathan M. Stein, P.L., Investigates Possible Breach of Fiduciary Duty by the Board of Nobel Learning Communit...
21 May 2011 - 12:33AM
Business Wire
The Law Office of Jonathan M. Stein, P.L. is investigating the
Board of Directors of Nobel Learning Communities, Inc. ("Nobel" or
the "Company") (Nasdaq: NLCI) for possible breaches of fiduciary
duty and other violations of state law in connection with their
attempt to complete a sale of the Company to Leeds Equity Partners.
Under the terms of the proposed transaction, Nobel shareholders are
to receive $11.75 in cash for each share they own, for a total
transaction value of about $149 million.
The investigation involves whether the Board of Directors of
Nobel breached their fiduciary duties to Nobel stockholders by
failing to adequately shop the Company before agreeing to enter
into the transaction and whether Nobel has disclosed all material
information to shareholders about the proposed transaction. Of
particular interest, according to Yahoo Finance, an analyst
following the Company has set a target price of $20.00 per share.
Further, shares of the Company have increased more than 75% over
the past eight months, from $5.76 on September 2, 2010 to $10.12 on
May 12, 2011, just days before the announcement of the
transaction.
If you own stock in Nobel and wish to obtain additional
information about your rights, or if you have information regarding
the above investigation, 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.
Jonathan M. Stein, Esq. Law Office of Jonathan M. Stein, P.L. 120
E. Palmetto Park Rd., Suite 420 Boca Raton, FL 33432 (561) 961-2244
jstein@jonathansteinlaw.com
www.jonathansteinlaw.com
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