NEW YORK, April 18, 2013 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of AdCare Health, Inc. ("AdCare" or the "Company") (NYSE: ADK), concerning whether the board has breached its fiduciary duties to shareholders.
In March 2013, the Company disclosed that it would need to restate its financial statements for 2012. On April 15, 2013, AdCare's Chief Financial Officer abruptly departed from the Company. The next day, the Company announced that it would not be able to timely file its Form 10-K for 2012.
Then, on April 17, 2013, an entity controlled by AdCare director Christopher Brogdon, announced that it intended to commence a tender offer to obtain majority control of AdCare.
Our investigation concerns whether the Company board of directors has breached its fiduciary duties to shareholders, grossly mismanaged the Company, and/or committed abuses of control in connection with the foregoing.
If you own AdCare shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
Robert I. Harwood, Esq.
Matthew M. Houston, Esq.
Benjamin I. Sachs-Michaels, Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers: (877) 935-7400
Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.
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SOURCE Harwood Feffer LLP