Law Office of Brodsky & Smith, LLC Announces Investigation of Nobel Learning Communities, Inc.
May 19 2011 - 11:30PM
Business Wire
Law office of Brodsky & Smith, LLC announces that it is
investigating potential claims against the Board of Directors of
Nobel Learning Communities, Inc. (“Nobel” or the “Company”)
(Nasdaq: NLCI) relating to the proposed acquisition by Leeds Equity
Partners. (“Leeds”).
Under the terms of the transaction, Nobel shareholders would
receive $11.70 in cash for each share of common stock of they own.
The investigation concerns possible breaches of fiduciary duty and
other violations of state law by the Board of Directors of Nobel by
not acting in Nobel shareholders' best interests in connection with
the sale process to Leeds. The transaction may undervalue Nobel as
an analyst has set a price target of $20.00 per share on Nobel
stock. In addition approximately 55% of Nobel stockholders,
including the company’s management, have entered into agreements
with Leeds to vote in favor of the transaction. This may prevent a
better offer to acquire Nobel to be forth coming.
If you own shares of Nobel stock and wish to discuss the legal
ramifications of the proposed transaction, or have any questions,
you may e-mail or call the law office of Brodsky & Smith, LLC
who will, without obligation or cost to you, attempt to answer your
questions. You may contact Jason L. Brodsky, Esquire or Evan J.
Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite
602, Bala Cynwyd, PA 19004, by e-mail at
investorrelations@brodsky-smith.com, visiting
http://brodsky-smith.com/290-nlci-nobel-learnig-communities-inc.html,
or by calling toll free 877-LEGAL-90.
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