The securities litigation firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of Assisted Living Concepts, Inc. (“Assisted Living” or the “Company”) (NYSE: “ALC”) and other violations of state law by the board of directors of Assisted Living relating to the proposed buyout of the Company by TPG, a global private investment firm. The firm’s investigation seeks to determine, among other things, whether Assisted Living’s board of directors breached their fiduciary duties by failing to maximize shareholder value.
As stated in the press release announcing the proposed buyout, Assisted Living Class A shareholders will receive $12.00 in cash for each share they own and the Company’s Class B shareholders will receive $12.90 in cash per share.
If you currently own common stock of Assisted Living and would like to learn more about the investigation being conducted by Brower Piven, you may email or call Brower Piven, who will, without obligation or cost to you, attempt to answer your questions. You may contact Brower Piven by email at
, by calling (410) 415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and other class action cases of over 60 years.