Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Assisted Living Concepts Inc. (“Assisted Living” or the “Company”) (NYSE: ALC) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to private investment firm TPG in a deal valued at approximately $278 million. Under the terms of the proposed transaction, Assisted Living’s 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.
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The investigation focuses on whether Assisted Living’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether and by how much this proposed transaction undervalues the Company to the detriment of Assisted Living’s shareholders.
Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm’s clients.If you own common stock in Assisted Living and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/ALC or contact Juan E. Monteverde, Esq. either via e-mail at email@example.com or by telephone at (877) 247-4292 or (212) 983-9330. Attorney Advertising. (C) 2013 Faruqi & Faruqi, LLP. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP ( www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We are happy to discuss your particular case.