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The law firm of Powers Taylor, LLP is investigating potential legal
claims against the Board of Directors of NightHawk Radiology Holdings,
Inc. (“NightHawk Radiology”) (NASDAQ: NHWK) related to the proposed
acquisition and buyout of NightHawk by Virtual Radiologic Corp.
The definitive acquisition agreement involves an all-cash transaction
valued at $170 million under which NightHawk Radiology shareholders will
receive $6.50 in cash for each share of NightHawk/NHWK common
stock they hold. The acquisition transaction, which was announced on
September 27, 2010, is expected to be completed in the first quarter of
2011. Although the proposed buyout price represents a 100% premium over
NightHawk’s closing price on September 17, 2010, NightHawk shares closed
well above the acquisition price in 2009.
The investigation relates to possible breaches of fiduciary duty and
other violations of state law by the Board of Directors of NightHawk
Radiology for approving this transaction, whether the consideration to
be received by NightHawk Radiology shareholders is fair, and whether
NightHawk Radiology’s Board of Directors acted in the shareholders’ best
If you currently own shares of NightHawk Radiology/NHWK and would like
additional information regarding this investigation, or if you have
information regarding the allegations involving this transaction, please
contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607
or via e-mail at [email protected]
There is no cost or fee to you.
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.