The Law Firm of Weiss & Lurie Investigates the Acquisition of EMS Corp.
15 February 2011 - 6:10AM
Business Wire
Weiss & Lurie, a national class action and shareholder
rights law firm with offices in New York City and Los Angeles, is
investigating possible breaches of fiduciary duty and other
violations of law by members of the Board of Directors of Emergency
Medical Services Corp. (NYSE: EMS) (“EMS”) arising from the
proposed acquisition of EMS by Clayton, Dubilier & Rice
(“CD&R”).
Under the terms of the transaction, shareholders will receive
$64 per share of EMS, 9% below
EMS’ closing price on February 11, the last trading day before the
deal’s announcement. The transaction is expected to close in the
second quarter.
Weiss & Lurie is investigating whether EMS’s Board acted in
the best interests of shareholders in approving the transaction and
whether the Board properly sought to maximize shareholder value. Of
particular concern is that Onex Corp, which holds a 31 percent
stake in EMS, supports the buyout and will receive 10 times what it
paid in 2005 to acquire its stake. Together, EMS, CD&R, Onex,
and their affiliates, have sufficient voting power to approve the
merger, thereby denying other EMS shareholders a meaningful vote.
Additionally, analysts have set price targets for EMS stock above
the $64 offer price, with a high target of $76.
If you own EMS shares and would like more information about your
rights as a shareholder or additional information concerning our
investigation, please contact Julia J. Sun either by email at
infony@weisslurie.com or by telephone at (888) 593-4771.
Weiss & Lurie has litigated hundreds of stockholder class
and derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for defrauded
institutions and individuals and obtained important corporate
governance in these cases. If you have information or would like
legal advice concerning possible corporate wrongdoing (such as
insider trading, waste of corporate assets, accounting fraud, or
issuing materially misleading press releases or SEC filings),
consumer fraud (such as false advertising, defective products, or
other deceptive business practices), or anti-trust violations,
please email us at infony@weisslurie.com or fill out the form on
our website, http://www.weisslurie.com/contact/report_fraud/.
Attorney Advertising. Past results do not guarantee a similar
outcome.
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