Emergency Services Corp. Shareholder Investigation by Briscoe Law Firm Concerning Acquisition by Clayton, Dubilier & Rice, LLC
15 February 2011 - 2:09AM
Business Wire
The Briscoe Law Firm, PLLC, founded by a former state prosecutor
and enforcement attorney for the United States Securities and
Exchange Commission, and the securities litigation law firm of
Powers Taylor, LLP are investigating potential legal claims against
the Board of Directors of Emergency Services Corporation
(“Emergency Services” or “EMS”) (NYSE: EMS) related to the proposed
sale of the company to an affiliate of Clayton, Dubilier &
Rice, LLC. The definitive merger agreement, which was announced on
February 14, 2011, involves a cash transaction valued at
approximately $3.2 billion. Under the proposed acquisition, EMS
shareholders will receive only $64.00 for every EMS Class A and B
common stock and each LP Exchangeable Unit.
The proposed transaction offers Emergency Services shareholders
a 9% discount to Emergency Services’ closing price on February 11,
2011, the last trading day prior to the acquisition announcement.
Moreover, analysts have set a target price for Emergency
Services/EMS shares as high as $76.00. “Based on the lack of an any
premium to shareholders, and other factors, we believe that the
acquisition undervalues EMS and may not be fair to Emergency
Services shareholders. We want to ensure that the shareholders are
receiving the maximum value for their stock,” said shareholder
rights attorney Willie Briscoe. The investigation relates to the
fairness of the proposed transaction to Emergency Services
shareholders, possible breaches of fiduciary duty and other
violations of state law by the Board of Directors of Emergency
Services for approving this transaction, and whether Emergency
Services’ Board of Directors acted in the shareholders’ best
interests.
If you currently own shares of Emergency Services
Corporation/EMS and would like additional information regarding
this investigation, or if you have information regarding the
allegations involved in this transaction, please contact Patrick
Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail
at patrick@powerstaylor.com, or Willie Briscoe at The Briscoe Law
Firm, PLLC toll free (877) 397-5991, or via email at
WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.
The Briscoe Law Firm is a full service business litigation and
shareholder rights advocacy firm with more than 20 years of
experience in complex litigation matters.
Powers Taylor, LLP is a boutique litigation law firm that
handles a variety of complex business litigation matters, including
claims of investor and stockholder fraud, shareholder oppression,
shareholder derivative suits, and security class actions.
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