Rigrodsky & Long, P.A. Investigates Virtual Radiologic Corporation Buyout
- Do you own Virtual Radiologic Corporation common stock?
- Did you purchase your shares before May 16, 2010?
- Do you feel the buyout is unfair?
- Do you want to discuss your rights?
If the answer to these questions is "yes," please contact the deal lawyers at Rigrodsky & Long, P.A. ("R & L") today to schedule a FREE consultation. Just call us, or fill out our contact form so that we can call at your convenience. Your consultation will not create any obligation to use our services at any time.
Contact R & L today to be sure your best interests are being protected.
R & L is national law firm with decades of combined legal experience. R & L is investigating potential claims against the board of directors of Virtual Radiologic Corporation concerning possible breaches of fiduciary duty and other violations of law related to the Company’s entry into an agreement to be acquired and taken private by Providence Equity Partners in a transaction valued at approximately $294 million.
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Rigrodsky & Long, P.A. Investigates Virtual Radiologic Corporation Buyout
Rigrodsky & Long, P.A. announces that it is investigating potential claims against the board of directors of Virtual Radiologic Corporation (“Virtual Radiologic” or the “Company”) (Nasdaq: VRAD) concerning possible breaches of fiduciary duty and other violations of law related to the Company’s entry into an agreement to be acquired and taken private by Providence Equity Partners (“Providence”) in a transaction valued at approximately $294 million.
Under the proposed agreement, Virtual Radiologic shareholders will receive $17.25 in cash for each share of Virtual Radiologic common stock they hold. The investigation concerns whether Virtual Radiologic’s board of directors failed to adequately shop the Company and obtain the best price possible for Virtual Radiologic’s shareholders before entering into the agreement with Providence. As recent as April 26, 2010, the Company announced its first quarter 2010 financial results wherein it reported an 8% increase in revenue, an increase of adjusted net income of 25%, and an increase in adjusted EBITDA of 25%. Furthermore, co-founder and Chief Medical Officer, Dr. Eduard Michel, who owns 6% of the Company’s outstanding common shares, and Generation Partners, which owns 25.3% of the Company’s common shares, have executed Voting Agreements pursuant to which they have agreed to vote in favor of the transaction.
If you own the common stock of Virtual Radiologic and purchased your shares before May 16, 2010, 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 Seth D. Rigrodsky, Esquire or Noah R. Wortman, Case Development Director, of Rigrodsky & Long, P.A., 919 N. Market Street, Suite 980, Wilmington, Delaware, by telephone at (888) 969-4242, or by e-mail to info@rigrodskylong.com.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.
Attorney advertising. Prior results do not guarantee a similar outcome.
R & L, with offices in Delaware and New York, litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.
Attorney advertising. Prior results do not guarantee a similar outcome.
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