Law Office of Joseph Klein Announces Investigation of Possible Breach of Fiduciary Duty by the Board of Health Grades Inc. - HGRD
The Law Office of Joseph Klein is investigating the Board of Directors of Health Grades Inc. (NasdaqGS: HGRD) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to an affiliate of Vestar Capital Partners V, L.P. ("Vestar").
- New York, NY (1888PressRelease) August 04, 2010 - Under the terms of the deal, Health Grades shareholders will receive $8.20 in cash for each Health Grades share of common stock they own for a total transaction value of approximately $294 million.
The investigation concerns whether the Health Grades Board of Directors breached their fiduciary duties to Health Grades stockholders by failing to adequately shop the Company before entering into this transaction and whether Vestar is underpaying for Health Grades shares, thus unlawfully harming Health Grades stockholders. The offer price is only a small premium over the $7.89 price the Company's shares traded at as recently as May 10, 2010 and the mean price target for Health Grades stock set by analysts is $8.67 per share with at least one analyst setting a price target at $9.00 per share.
If you own common stock in Health Grades and wish to obtain additional information about this investigation and what is being done to advance the shareholders' interests, please contact Joseph Klein, Esq. directly, via email at jk ( @ ) jkleinlawfirm dot com, by telephone at 718-947-0005, Toll Free: 877-STOK-180, or visit http://www dot jkleinlawfirm dot com/health-grades dot html dot
Joseph Klein, Esq. is an experienced attorney and has also practiced as a Certified Public Accountant. Mr. Klein represents investors and participates in securities litigations involving financial fraud throughout the nation.
CONTACT:
Joseph Klein, Esq.
1560 East 27th Street
Brooklyn, NY 11229
Telephone: (718) 947-0005
Fax: (718) 799-1443
Toll Free: (877) STOK-180 (877-786-5180)
E-Mail: jk ( @ ) jkleinlawfirm dot com
The Web: www.jkleinlawfirm.com
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