Weiss & Lurie, a national class action and shareholder rights law firm with offices in New York City and Los Angeles, is investigating possible breaches of fiduciary duty and other violations of law by members of the Board of Directors of Emergency Medical Services Corp. (NYSE: EMS) (“EMS”) arising from the proposed acquisition of EMS by Clayton, Dubilier & Rice (“CD&R”).
Under the terms of the transaction, shareholders will receive $64 per share of EMS, 9% below EMS’ closing price on February 11, the last trading day before the deal’s announcement. The transaction is expected to close in the second quarter.
Weiss & Lurie is investigating whether EMS’s Board acted in the best interests of shareholders in approving the transaction and whether the Board properly sought to maximize shareholder value. Of particular concern is that Onex Corp, which holds a 31 percent stake in EMS, supports the buyout and will receive 10 times what it paid in 2005 to acquire its stake. Together, EMS, CD&R, Onex, and their affiliates, have sufficient voting power to approve the merger, thereby denying other EMS shareholders a meaningful vote. Additionally, analysts have set price targets for EMS stock above the $64 offer price, with a high target of $76.
If you own EMS shares and would like more information about your rights as a shareholder or additional information concerning our investigation, please contact Julia J. Sun either by email at firstname.lastname@example.org or by telephone at (888) 593-4771.Weiss & Lurie has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded institutions and individuals and obtained important corporate governance in these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (such as insider trading, waste of corporate assets, accounting fraud, or issuing materially misleading press releases or SEC filings), consumer fraud (such as false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at email@example.com or fill out the form on our website, http://www.weisslurie.com/contact/report_fraud/. Attorney Advertising. Past results do not guarantee a similar outcome.
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