PZZ Prospect Medical Hldgs (MM)

Law Offices of Howard G. Smith announces that it is investigating potential claims against the board of directors of Prospect Medical Holdings, Inc. (“Prospect” or the “Company”) (NASDAQ:PZZ) related to the Company’s agreement to be acquired by an entity sponsored by Leonard Green & Partners, L.P. (“Leonard Green & Partners”). Certain stockholders of Prospect also will participate in the transaction. The proposed cash transaction is valued at approximately $363 million, including assumed debt.

Under the terms of the definitive merger agreement entered into by the parties, an entity sponsored by Leonard Green & Partners will acquire all of the outstanding shares of Prospect common stock for $8.50 per share in cash. Certain directors and officers of Prospect who, in the aggregate, currently own approximately 10.4 million shares of Prospect’s outstanding common stock – nearly 50% of the Company’s outstanding shares – have entered into a voting agreement in which they have agreed to vote all of their Prospect shares in favor of the merger agreement and to exchange approximately 6.2 million of their Prospect shares for equity interests in the sponsored purchasing entity in lieu of their receipt of the cash merger consideration for those shares. The investigation concerns possible breaches of fiduciary duty and other violations of law related to approval of the proposed transaction by Prospect’s board of directors.

If you own shares of Prospect, 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at http://www.howardsmithlaw.com.

Prospect Medical Hldgs (MM) (NASDAQ:PZZ)
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Prospect Medical Hldgs (MM) (NASDAQ:PZZ)
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