ERT Eresearch Technology Inc. (MM)

Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP are investigating the sale of eResearch Technology, Inc. (“ERT”) (NASDAQ: ERT) to Genstar Capital, LLC for shareholders. Under the proposed transaction, ERT shareholders will receive only $8.00 in cash for each share of ERT stock owned, which is only a 2% premium over the previous day’s closing price.

If you are an affected investor, and you want to learn more about the lawsuit or join the action, contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at patrick@powerstaylor.com, or Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 706-9314, or via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.

The definitive acquisition agreement involves an all cash transaction with a total equity value of approximately $400 million. The deal is expected to close in the third quarter of 2012.

The investigation centers on whether ERT shareholders are receiving adequate compensation for their shares in the buyout, whether the transaction undervalues ERT stock, and whether ERT board attempted to obtain the highest share price for all shareholders prior to agreeing to the deal. According to Yahoo! Finance, at least one analyst has stated that the true inherent value of ERT may be as high as $9.00 per share, far higher than the current price being offered to shareholders. According to shareholder rights attorney Willie Briscoe, “Based on the lack of a significant premium to ERT shareholders and the fact that the sale price is well below the target price set by analysts, the firms believe that the buyout price may not be fair to ERT shareholders. Our proposed shareholder lawsuit seeks to obtain the highest share price for all shareholders.”

The Briscoe Law Firm, PLLC is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.

Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.

Eresearch Technology Inc. (MM) (NASDAQ:ERT)
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