Law Office of Brodsky & Smith, LLC Announces Investigation of NovaMed, Inc.
24 Gennaio 2011 - 3:24PM
Business Wire
Law office of Brodsky & Smith, LLC announces that it is
investigating potential claims against the Board of Directors of
NovaMed, Inc. (“NovaMed” or the “Company”) (Nasdaq: NOVA) relating
to the proposed acquisition by an affiliate of the private equity
investment firm H.I.G. Capital in a transaction valued at
approximately $214 million, including assumed debt.
Under the terms of the offer, NovaMed shareholders would receive
cash of $13.25 for each share of NovaMed stock they own. The
investigation concerns possible breaches of fiduciary duty and
other violations of state law by the Board of Directors of NovaMed
by not acting in NovaMed shareholders' best interests in connection
with the sale process to H.I.G. Capital. The transaction appears to
be unfair, in part, given the share price offered to NovaMed
shareholders. In contrast to the offer price of $13.25, the 52 week
high for the Company’s shares was $16.41 and at least one analyst
has set a target price for NovaMed at $18.00.
If you own shares of NovaMed and wish to discuss the legal
ramifications of the proposed transaction, or have any questions,
you may e-mail or call the law office of Brodsky & Smith, LLC
who will, without obligation or cost to you, attempt to answer your
questions. You may contact Jason L. Brodsky, Esquire or Evan J.
Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite
602, Bala Cynwyd, PA 19004, by e-mail at
investorrelations@brodsky-smith.com, or by calling toll free
877-LEGAL-90.
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