Levi & Korsinsky is investigating the Board of Directors of Assisted Living Concepts Inc. (“Assisted Living” or the “Company”) (NYSE: ALC) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to private investment firm TPG.
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Under the terms of the transaction, Assisted Living shareholders will receive $12.00 for each share of Class A Assisted Living common stock they own; Class B shareholders will receive $12.90 per share. The transaction has a total approximate value of $278 million. The investigation concerns whether the Assisted Living Board of Directors breached their fiduciary duties to stockholders by failing to adequately shop the Company before entering into this transaction and whether TPG is underpaying for Assisted Living shares, thus unlawfully harming Assisted Living stockholders.
If you own common stock in Assisted Living and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or http://zlk.9nl.com/assisted-living-alc/.Levi & Korsinsky is a national firm with offices in New York, New Jersey, and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major securities lawsuits and have successfully recovered multimillion-dollar damages awards on behalf of investors. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.