Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP are investigating the sale of Assisted Living Concepts, Inc. (“Assisted Living”) (NYSE: ALC) to the private investment firm TPG for shareholders. Under the terms of the transaction valued at approximately $278 million, Class A Assisted Living shareholders will receive $12.00 per share and Class B shareholders will receive $12.90 per share. If you are an affected investor, and you want to learn more about the lawsuit or join the action, please contact Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 239-4568, via email at WBriscoe@TheBriscoeLawFirm.com or Zach Groover at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at email@example.com. There is no cost or fee to you. The Assisted Living merger investigation centers on whether Assisted Living’s shareholders are receiving adequate compensation for their shares in the proposed merger, whether the transaction undervalues Assisted Living’s stock, and whether Assisted Living’s board attempted to obtain the highest share price for all shareholders prior to agreeing to the deal. According to shareholder rights attorney Willie Briscoe, “Based on the stock for stock nature of the deal, the value of the consideration, and other factors, we are concerned that this transaction may undervalue Assisted Living’s stock. Our proposed lawsuit will seek to obtain the highest share price for all shareholders.” The Briscoe Law Firm, PLLC is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters. Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.
The ex-dividend date for Assisted Living Concepts (NYSE:ALC) is tomorrow, May 17, 2012. Owners of shares as of market close today will be eligible for a dividend of 10 cents per share. At a price of $16.18 as of 9:30 a.m., the dividend yield is 2.5%.