Robbins Umeda LLP Is Investigating Emergent Group Inc. Acquisition for Shareholders

Robbins Umeda LLP, a shareholder rights litigation firm, is investigating possible breaches of fiduciary duty and other violations of state law by members of the board of directors of Emergent Group Inc. (AMEX: LZR) in connection with their efforts to sell the company to Universal Hospital Services, Inc.  The investigation seeks to determine whether Emergent's board of directors undertook a fair process to obtain maximum value for its shareholders.

On February 7, 2011, Emergent and Universal Hospital Services announced the definitive merger agreement under which Universal Hospital Services will acquire Emergent in a tender offer transaction valued at $58.37 million.  Under the terms of the current agreement, Emergent shareholders will receive $8.46 in cash for each share of Emergent common stock.  Emergent executives and directors, holding in the aggregate approximately 47% of the Company's outstanding shares, entered into a tender and voting agreement pursuant to which the executives and directors agree to tender all their shares in the offer and will vote all shares in approval of the merger.  Notably, this announcement comes after Emergent had a successful third quarter in 2010, reporting revenues of over $7.5 million, up 4.8% from the previous quarter.

If you own stock in Emergent and would like more information about your rights as a shareholder, please contact attorney Gregory E. Del Gaizo at 800-350-6003 or by e-mail at info@robbinsllp.com.