NEW YORK, Feb. 26, 2013 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of Assisted Living Concepts, Inc. ("Assisted Living" or the "Company") (NYSE: ALC) concerning the proposed acquisition of the Company by TPG, a privately held investment firm in a transaction valued at approximately $278 million.
On February 26, 2013, Assisted Living announced that it had entered into a definitive agreement pursuant to which the Company will be acquired by TPG. Under the terms of the agreement, TPG will pay $12.00 per share for all Class A stock and $12.90 per share for all Class B stock. The Special Committee formed to consider this proposal was chaired by the Vice Chairman of the Assisted Living Board, who was also the former President and Chief Executive Officer of the predecessor company to Assisted Living.
Our investigation concerns whether the board of directors is fulfilling its fiduciary duties, maximizing the value of Assisted Living Stock, disclosing all material benefits and costs and obtaining full and fair consideration for Assisted Living public shareholders.
If you own Assisted Living 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 Sachs-Michaels Harwood Feffer LLP 488 Madison Avenue New York, New York 10022 Phone Numbers: (877) 935-7400 (212) 935-7400 Email: mhouston@,hfesq.com Website: http://www.hfesq.com
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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