Finkelstein Thompson LLP Announces Investigation of Emergent Group Inc.
February 08 2011 - 10:07AM
Business Wire
Finkelstein Thompson LLP is investigating potential claims on
behalf of shareholders of Emergent Group Inc. (“Emergent” or the
“Company”) (AMEX: LZR) concerning the proposed acquisition of the
Company by Universal Hospital Services, Inc. (“UHS”). Under the
terms of the offer, Emergent shareholders will receive $8.46 in
cash for each share they own in a transaction valued as
approximately $70 million, including the assumption of debt, and is
expected to close in the middle of 2011.
The investigation is focused on the potential unfairness of the
consideration to Emergent shareholders, the process by which the
Board of Directors considered the transaction, and potential
conflicts of interests among Emergent Board members. Officers and
directors holding approximately 47% of Emergent’s current
outstanding voting stock have agreed to tender their shares in the
proposed offer. Moreover, according to the press release, if 65% of
the outstanding shares are tendered, the merger agreement allows
UHS to take the necessary steps to obtain the additional shares
necessary to complete the transaction.
If you are interested in discussing your rights as an Emergent
shareholder, or have information relating to this investigation,
please contact Finkelstein Thompson's Washington, DC offices at
(877) 337-1050 or by email at contact@finkelsteinthompson.com.
Finkelstein Thompson LLP has spent over three decades delivering
outstanding representation to institutional and individual clients
in financial litigation, and has been appointed as lead or co-lead
counsel in dozens of shareholder class actions. Indeed, the firm
has served in leadership roles in cases that have recovered over $1
billion for investors and consumers.
To learn more about Finkelstein Thompson LLP, please visit our
web site at www.finkelsteinthompson.com. Attorney advertising.
Prior results do not guarantee similar outcomes.
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