Levi & Korsinsky, LLP Investigates Possible Breach of Fiduciary Duty by the Board of QuadraMed Corp. - QDHC
08 Dezembro 2009 - 3:09PM
Business Wire
Levi & Korsinsky is investigating the Board of Directors of
QuadraMed Corp. (“QuadraMed” or the “Company”) (NasdaqGM: QDHC) for
possible breaches of fiduciary duty and other violations of state
law in connection with their attempt to sell the Company to private
equity firm Francisco Partners. Under the terms of the deal,
Francisco Partners will acquire all outstanding shares of QuadraMed
common stock for $8.50 per share and the Series A Cumulative
Mandatory Convertible Preferred Stock for $13.7097 per share, for a
total transaction value of approximately $126 million.
The investigation concerns whether the QuadraMed Board of
Directors breached their fiduciary duties to QuadraMed shareholders
given that the offer price is only a small premium over the $7.94
price the Company's shares traded at as recently as October 14,
2009 and at least one analyst set a price target for QuadraMed
stock at $11.00 per share.
If you own common stock in QuadraMed and wish to obtain
additional information, please contact us at the number listed
below or visit http://www.zlk.com/qdhc1.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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