Rigrodsky & Long, P.A. Announces Investigation of Dialysis Corporation of America, Inc.
14 Abril 2010 - 11:58AM
Business Wire
Rigrodsky & Long, P.A. announces that it is investigating
potential claims against the board of directors of Dialysis
Corporation of America, Inc. (“DCA” or the “Company”) (Nasdaq:DCAI)
concerning possible breaches of fiduciary duty and other violations
of law related to the Company’s entry into an agreement to be
acquired by U.S. Renal Care, Inc. (“USRC”) in a transaction valued
at approximately $112 million.
Under the proposed agreement, USRC will make a cash tender offer
of $11.25 per share for each share of DCA common stock outstanding.
In addition, directors and executive officers of DCA holding
approximately 23% of DCA’s outstanding common stock have entered
into agreements to, among other things, tender their shares into
the tender offer. The investigation concerns whether DCA’s board of
directors failed to adequately shop the Company and obtain the best
price possible for DCA’s shareholders before entering into the
agreement with USRC. On March 10, 2010, the Company announced its
fourth quarter and year end 2009 financial results wherein it
announced both a 14% increase in operating revenues and a 9%
increase in operating income in 2009. Stephen Everett, DCA’s
President and CEO, commented, “We are very pleased with our
company's performance throughout 2009.”
If you own the common stock of DCA and purchased your shares
before April 13, 2010, if you have information or would like to
learn more about these claims, or if you wish to discuss these
matters or have any questions concerning this announcement or your
rights or interests with respect to these matters, please contact
Seth D. Rigrodsky, Esquire or Noah R. Wortman, Case Development
Director, of Rigrodsky & Long, P.A., 919 N. Market Street,
Suite 980, Wilmington, Delaware, by telephone at (888) 969-4242, or
by e-mail to info@rigrodskylong.com.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware
and Garden City, New York, regularly litigates securities class,
derivative and direct actions, shareholder rights litigation and
corporate governance litigation, including claims for breach of
fiduciary duty and proxy violations in the Delaware Court of
Chancery and in state and federal courts throughout the United
States.
Attorney advertising. Prior results do not guarantee a similar
outcome.
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