Murray, Frank & Sailer LLP Investigates Breaches Of Fiduciary Duty Regarding Acquisition Of Nobel Learning Communities, Inc. ...
19 Maggio 2011 - 2:18AM
Business Wire
Murray, Frank & Sailer LLP is investigating claims of breach
of fiduciary duty by certain members of the board of directors of
Nobel Learning Communities, Inc. (NASDAQ: NLCI) (“NLCI” or the
“Company”) in relation to the acquisition of NLCI by Leeds Equity
Partners (“Leeds”).
On May 18, 2011, NLCI and Leeds announced that Leeds will
acquire NLCI pursuant to a transaction under which NLCI
stockholders will receive $11.75 in cash for each share of NLCI
common stock held. The deal should total an aggregate value of
approximately $125.2 million. At the time of the announcement of
the deal, holders of approximately 55% of the outstanding shares of
Company’s common stock, including members of the Board and
management, had agreed to vote in favor of the transaction.
The investigation concerns whether certain members of the board
of directors breached their fiduciary duty in connection with their
efforts to sell NLCI to Leeds at an inadequate price through an
unfair process that significantly undervalues the Company.
If you are a current investor in the Company who purchased NLCI
shares before May 18, 2011, and you wish to discuss this
investigation or have any questions concerning this notice or your
rights or interests with respect to these matters, please contact
Gregory Frank at (800) 497-8076 or (212) 682-1818, or by email at
investigations@murrayfrank.com.
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