Law Office of Brodsky & Smith, LLC Announces Investigation of QuadraMed Corp.
09 Dicembre 2009 - 6:07PM
Business Wire
Law office of Brodsky & Smith, LLC announces that it is
investigating potential claims against the Board of Directors of
QuadraMed Corp. (“QuadraMed” or the “Company”) (Nasdaq:QDHC)
related to the proposed acquisition by Francisco Partners, a
private equity firm. The deal is valued at approximately $126
million.
Under the terms of the transaction, Francisco Partners will
acquire all outstanding shares of QuadraMed common stock for $8.50
per share and the Series A Cumulative Mandatory Convertible
Preferred Stock for $13.7097 per share. The investigation concerns,
in part, whether the board breached their fiduciary duties by not
receiving fair value for the Company. While the parties tout that
the offer is a 32.6% premium over the one day share price of the
stock, the offer represents only a nominal premium over recent
activity. As recently as mid-October 2009, QuadraMed stock traded
at over $7.75 per share.
If you are a QuadraMed shareholder and wish to discuss the legal
ramifications of the Board’s actions, 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 Marc L. Ackerman, Esquire at Brodsky
& Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004,
by e-mail at clients@brodsky-smith.com, or by calling toll free
877-LEGAL-90.
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