Tripp Levy PLLC Investigates Management Buyout of MedQuist
January 24 2011 - 1:56PM
Business Wire
Tripp Levy PLLC, a leading national securities firm, announces
an investigation into the proposed acquisition of MedQuist Inc.
(NASDAQ: MEDQ). On January 21, 2011, CBaySystems Holdings
Limited announced that it intends to commence an offer to exchange
one share of CBay common stock for each outstanding share of
MedQuist common stock that it does not currently own or have the
right to acquire (the “Exchange Offer”). CBay currently owns
approximately 69.5% of MedQuist’s outstanding shares of common
stock and has entered into an agreement with certain MedQuist
shareholders who own approximately 12.7% of MedQuist’s outstanding
shares of common stock to exchange one share of CBay common stock
for each share of MedQuist common stock owned by such shareholders
(the “Private Exchange”). Assuming consummation of the Private
Exchange, a full exchange in the Exchange Offer would increase
CBay’s ownership in MedQuist to 100%.
The investigation concerns, among other things, whether the
consideration to be paid to MedQuist shareholders is grossly
unfair, inadequate, and substantially below the fair or inherent
value of MedQuist. The investigation further concerns whether CBay,
as the controlling shareholder of the company, as well as the board
of directors of MedQuist may have breached their fiduciary duties
by not acting in MedQuist shareholders' best interests in
connection with the sale process of MedQuist.
If you own MedQuist common stock and you wish to discuss this
matter with us, or have any questions concerning your rights and
interests with regard to this matter, please contact
Tripp LevyTripp Levy PLLC125 East 82nd Street9th FloorNew York,
New YorkToll Free: 877-772-3975Email: contact@tripplevy.com
Tripp Levy PLLC is a national law firm that specializes in
mergers & acquisitions, takeover litigation, shareholder
rights, and corporate governance matters in state and federal
courts throughout the United States.
Attorney advertising. Prior results do not guarantee a similar
outcome.
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