Robbins Umeda LLP Is Investigating Emergency Medical Services Corp. 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 Emergency Medical Services Corp. (NYSE: EMS) in connection with their efforts to sell the company to Clayton, Dubilier & Rice, LLC
On February 14, 2011, EMS and CD&R announced a definitive merger agreement under which under which EMS will be acquired by CD&R. Under the terms of the current agreement, EMS shareholders will receive $64 per share in cash, a 9.4% discount of EMS’s closing price of $70.66 on February 11, 2011.
The investigation seeks to determine whether EMS’ board of directors undertook a fair process to obtain maximum value for its shareholders. Specifically, since December 2010, at least nine brokerage firms have had a price target higher than the current acquisition price. The stock also traded higher than the current offer price on February 10 and February 11.
If you own stock in EMS 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.
