The Law Offices Of Vincent Wong Announce An Investigation Into Possible Breaches Of Fiduciary Duty By The Board Of NovaMed, Inc. In Connection With The Sale Of The Company To Surgery Center Holdings, Inc. - NOVA
The Law Offices of Vincent Wong are investigating the Board of Directors of NovaMed, Inc. (Nasdaq: NOVA) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to an affiliate of Surgery Center Holdings, Inc. which is an affiliate of H.I.G. Capital, LLC. Under the terms of the proposed deal, NovaMed shareholders will receive $13.25 in cash per share. The total transaction is value of approximately $214 million, including the assumption of debt.
The investigation concerns whether the NovaMed Board of Directors breached their fiduciary duties to NovaMed stockholders by failing to adequately shop the Company before entering into this transaction and whether Surgery Center Holdings is underpaying for NovaMed shares. One analyst reported by Thomson/First Call set a price target of $18 per share for NovaMed stock and the company's shares traded at $13.25 as recently as January 18, 2011.
If you own common stock in NovaMed and wish to obtain additional information, please contact Vincent Wong, Esq. either via email firstname.lastname@example.org, by telephone at 212.584.2740, or visit http://www.wongesq.com/novamed-nova.html.
Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
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