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SOURCE Pomerantz Grossman Hufford Dahlstrom & Gross LLP
NEW YORK, Feb. 26, 2013 /PRNewswire/ -- Pomerantz Grossman Hufford Dahlstrom & Gross LLP is investigating claims on behalf of investors of Assisted Living Concepts, Inc. ("ALC" or the "Company") (NYSE: ALC) (ISIN: US04544X3008) (CUSIP: 04544X300) concerning the proposed acquisition of Assisted Living Concepts, Inc. by TPG, a leading global private investment firm, in a transaction valued at approximately $278 million in Cash.
The investigation concerns whether the ALC directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the agreement, ALC shareholders will be entitled to receive $12.00 per share in cash for each share of ALC Class A common stock and holders of ALC's Class B common stock will receive $12.90 per share in cash. However, the price to Total Assets and Book Value multiples are below those of comparable transactions. Moreover, the ALC stock traded above the offered price six months ago.
ALC shareholders seeking more information about this acquisition are advised to contact Robert Willoughby at firstname.lastname@example.org or 212-661-1100 or 888-476-6529, ext. 237.
The firm is also investigating actions on behalf of shareholders for the following companies: Arbitron Inc., Net1 Ueps Technologies, Inc., Universal Technical Institute, Inc. K-Swiss, Inc., Neptune Technologies Bioressources, Inc., Telanetix, Inc., Somerset Hills Bancorp, and BioClinica Inc.
The Pomerantz Firm, with offices in New York, Chicago and San Diego, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 75 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of defrauded investors. See www.pomerantzlaw.com.
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