Robbins Umeda LLP has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by members of the Board of Directors of Prospect Medical Holdings, Inc. ("Prospect" or the "Company") (NASDAQ: PZZ) in connection with their efforts to sell Prospect to an entity sponsored by Leonard Green & Partners, L.P. ("Leonard Green"). If the transaction is completed, Prospect shareholders will receive $8.50 in cash for each share of Prospect stock they hold.
Robbins Umeda LLP's investigation concerns whether the Board of Directors of Prospect undertook a fair process to obtain fair consideration for all shareholders of Prospect. Specifically, our investigation concerns whether the Company's Board of Directors breached their fiduciary duties to Prospect shareholders by failing to adequately shop the Company before entering into the transaction with an entity sponsored by Leonard Green. Notably, Prospect reported revenues of $116.7 million for the second quarter of 2010, a 36% increase from $86.1 million in the prior year quarter.
If you are a shareholder of Prospect, plan to continue to hold your shares, and would like more information about your rights as a shareholder, please contact attorney Gregory E. Del Gaizo at 800-350-6003 or by e-mail at firstname.lastname@example.org.
Robbins Umeda LLP is a California-based law firm with significant experience representing investors in merger-related shareholder class actions, shareholder derivative actions, and securities fraud class actions. For more information about the firm, please go to http://www.robbinsumeda.com.Advertisement