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Shareholder Alert: Powers Taylor Law Firm Investigates NightHawk Radiology Holdings’ Board Concerning the Acquisition by Vi...

Date : 09/27/2010 @ 3:01PM
Source : Business Wire
Stock : Nighthawk Radiology Holdings, Inc. (MM) (NHWK)
Quote : 6.49  0.0 (0.00%) @ 2:05AM
NightHawk share price Chart

Shareholder Alert: Powers Taylor Law Firm Investigates NightHawk Radiology Holdings’ Board Concerning the Acquisition by Vi...

NightHawk (NASDAQ:NHWK)
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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 interests.

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 patrick@powerstaylor.com. 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.



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