Kirby McInerney LLP is investigating potential claims against the Board of Directors of Epocrates Inc. (“Epocrates” or the “Company”) (EPOC) related to the proposed acquisition of the Company by Athenahealth Inc. (“Athenahealth”) (ATHN). Under the terms of the proposal, Athenahealth will acquire all of the outstanding common stock of Epocrates for $11.75 per share in cash, or approximately $293 million.
The investigation concerns whether the Epocrates Board of Directors is violating its fiduciary duties in connection with the proposal and whether the $11.75 per share consideration adequately values Epocrates common shares. The offer price represents a mere 22% premium to the price of shares on January 4, 2013, the day before the transaction was announced, and analysts have set price targets for Epocrates stock as high as $15.00.
If you are an Epocrates shareholder and wish to obtain additional information, please contact J. Brandon Walker, Esq. by email at firstname.lastname@example.org, or by telephone at (212) 699-1145 or (888) 529-4787, or fill out a contact form.
Kirby McInerney LLP is a New York-based law firm concentrating in securities, shareholder, whistleblower, antitrust and consumer litigation. For additional information, please go to www.kmllp.com.