NEW YORK, May 2, 2016 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Examworks Group, Inc. ("EXAM" or the "Company") in connection with the proposed acquisition of the Company by Leonard Green & Partners, L.P. ("Leonard Green"). On April 27, 2016, the Company announced it had reached a definitive agreement for Leonard Green to acquire all outstanding shares of EXAM in a transaction valued at approximately $2.2 billion. Under the terms of the agreement, EXAM shareholders will receive $35.05 in cash for each EXAM share they own.
WeissLaw is investigating whether EXAM's Board acted to maximize shareholder value prior to entering into the agreement. Notably, at least one analyst set a target price of $41.00 per share, or approximately $6.00 above the offer price. Additionally, the offer price represents a mere 3.9% premium over EXAM's April 26 trading price of $33.73, and $7.55 less than the Company's 52-week high of $42.60. Further, EXAM recently announced positive financial results. It reported revenue of $819.6 million for fiscal year 2015, representing an increase of $44.00 million, or 5.7% year-over-year when compared to the $775.6 million reported in the previous year.
Given these facts, WeissLaw is investigating whether EXAM's Board acted in the best interests of EXAM's public shareholders to maximize shareholder value prior to entering into the agreement. If you own EXAM shares and would like more information about your right or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at firstname.lastname@example.org.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at email@example.com or fill out the form on our website, http://www.weisslawllp.com/contact/report_fraud/.
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SOURCE WeissLaw LLP