The Law Offices Of Vincent Wong Announce An Investigation Into Possible Breaches Of Fiduciary Duty By The Board Of America Service Group, Inc. In Connection With The Sale Of The Company To Valitas Health Services, Inc. – ASGR
The Law Offices of Vincent Wong are investigating the Board of Directors
of America Service Group, Inc.
The Law Offices of Vincent Wong are investigating the Board of Directors of America Service Group, Inc. (Nasdaq: ASGR) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the company to Valitas Health Services, Inc. Under the terms of the agreement, America Service Group stockholders will receive $26 in cash per share for a total transaction value of approximately $250 million. The investigation concerns whether the America Service Group Board of Directors breached their fiduciary duties to America Service Group stockholders by failing to adequately shop the Company before entering into this transaction and whether Valitas is underpaying for America Service Group shares. Rich Hallworth, President and Chief Executive of American Service Group, will serve as the Chief Executive of the combined company. If you own common stock in America Service Group and wish to obtain additional information, please contact Vincent Wong, Esq. either via email firstname.lastname@example.org, by telephone at 212.584.2740, or visit http://www.wongesq.com/americaservice-asgr.html. Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
The ex-dividend date for America Service Group (Nasdaq:ASGR) is tomorrow, March 18, 2011. Owners of shares as of market close today will be eligible for a dividend of six cents per share. At a price of $25.73 as of 9:30 a.m., the dividend yield is 0.9%.
Shares of America Service Group (Nasdaq:ASGR) have taken a tremendous swing upward. The stock is trading at $25.78 as of 9:31 a.m. ET, 47.4% above Wednesday's closing price of $17.49. Volume is at 13,193, 0.4 times the daily average of 32,200.
Gregg Greenberg breaks down today's market action. Guests include Bob Millen, portfolio manager for the Jensen Fund, David Joy, chief strategist at Columbia Management and Michael Corbett, portfolio manager for the Perritt Emerging Opportunities Fund.