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Do you own shares of Emeritus Corporation (NYSE: ESC)?
Did you purchase any of your shares prior to February 21, 2014?
Do you think the proposed buyout price is too low?
Do you want to discuss your rights?
Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of Emeritus Corporation (“Emeritus” or the “Company”) (NYSE:
ESC) regarding possible breaches of fiduciary duties and other violations of law related to the Company’s entry into an agreement to be acquired by Brookdale Senior Living Inc. (“Brookdale”) (NYSE:
BKD), in a transaction valued at approximately $2.8 billion, including $1.4 billion of Emeritus mortgage debt.
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Under the terms of the proposal, public shareholders of Emeritus will receive 0.95 shares of Brookdale common stock for each share of Emeritus they own. Based on Brookdale’s closing stock price on February 19, 2014, Emeritus shareholders would have received consideration valued at approximately $28.41 per share.
The investigation concerns whether Emeritus’s board of directors failed to adequately shop the Company and obtain the best possible value for Emeritus’s shareholders before entering into an agreement with Brookdale. According to Yahoo! Finance, at least one analyst has issued a price target for Emeritus stock at $31.00 per share.
If you own the common stock of Emeritus and purchased your shares before February 20, 2014, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth D. Rigrodsky or Gina M. Serra at Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, Delaware 19803, by telephone at (888) 969-4242; by e-mail to
email@example.com, or at:
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes
securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, on behalf of shareholders in states and federal courts throughout the United States.
Attorney advertising. Prior results do not guarantee a similar outcome.