Robbins Umeda LLP Is Investigating America Service 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 America Service Group Inc. (NASDAQ: ASGR) in connection with their efforts to sell America Service Group to Valitas Health Services, Inc.
On March 3, 2011, America Service Group and Valitas Health Services announced that they have signed an agreement and plan of merger under which Valitas will acquire all of the outstanding shares of America Service Group for cash consideration of $26.00 per share. The transaction is expected to close in the second quarter of 2011.
The investigation seeks to determine whether America Service Group’s board of directors undertook a fair process to obtain maximum value for its shareholders, or whether they placed their own interests ahead of shareholders. Notably, Richard Hallworth, America Service Group’s Chief Executive Officer, and Michael Taylor, America Service Group’s Executive Vice President and Chief Financial Officer, will continue in these positions at the combined company
If you own stock in America Service Group 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 firstname.lastname@example.org.