Levi & Korsinsky, LLP Investigates Possible Breach of Fiduciary Duty by the Board of Dialysis Corp. of America - DCAI
14 Abril 2010 - 5:10PM
Business Wire
Levi & Korsinsky is investigating the Board of Directors of
Dialysis Corp. of America (“DCAI” or the “Company”) (NasdaqGM:
DCAI) for possible breaches of fiduciary duty and other violations
of state law in connection with their attempt to sell the Company
to U.S. Renal Care, Inc. (“USRC”). Under the terms of the
transaction, DCAI shareholders will receive $11.25 in cash for each
DCAI share of common stock they own for a total transaction value
of approximately $112 million.
The investigation concerns whether the DCAI Board of Directors
breached their fiduciary duties to DCAI stockholders by failing to
adequately shop the Company before entering into this transaction
and whether USRC is underpaying for DCAI shares, thus unlawfully
harming DCAI stockholders. In particular, the Company recently
announced a 14% increase in operating revenues and a 9% increase in
operating income in 2009 as compared 2008. In addition, directors
and executive officers of DCAI holding approximately 23% of DCA’s
outstanding common stock have entered into agreements to tender
their shares.
If you own common stock in DCAI and wish to obtain additional
information, please contact us at the number listed below or visit
http://www.zlk.com/dialysis-corp-america-dcai.html.
Levi & Korsinsky has expertise in prosecuting investor
securities litigation and extensive experience in actions involving
financial fraud and represents investors throughout the nation,
concentrating its practice in securities and shareholder
litigation.
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