Bull & Lifshitz, LLP announces an investigation into possible breaches of fiduciary duty in connection with the proposed acquisition of Prospect Medical Holdings, Inc. (NASDAQ:
) (referred to as "Prospect" or the “Company”) by Leonard Green & Partners, L.P. (referred to as “Leonard Green”) in a cash transaction valued at approximately $363 million, including the assumption of approximately $158 million in Prospect’s net debt.
Pursuant to the Merger Agreement, Prospect will be acquired for $8.50 per share in cash by an entity sponsored by Leonard Green in which certain stockholders of Prospect will also participate. Some directors and officers of Prospect that currently own in the aggregate approximately 10.4 million shares of Prospect’s outstanding common stock (representing nearly 50% of Prospect’s outstanding shares) have entered into a voting agreement in which they have agreed to vote all of their Prospect shares in favor of the adoption of the merger agreement. These stockholders have agreed to exchange approximately 6.2 million of their Prospect shares for equity interests in the sponsored purchasing entity in lieu of their receipt of the cash merger consideration for those shares.
Bull & Lifshitz, LLP's investigation is focused on whether the proposed deal provides adequate value to the Company’s shareholders.
If you are a holder of Prospect stock and want to discuss your legal rights, you may e-mail or call Bull & Lifshitz, LLP who will, without obligation or cost to you, attempt to answer your questions.
Please contact Joshua M. Lifshitz, Esq. by telephone at (866) 313-6222 or by sending an e-mail including your contact information to:
Bull & Lifshitz, LLP is a New York City-based law firm with significant experience representing investors in merger-related shareholder class actions and shareholder derivative actions. , Please visit our website at
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