NEW YORK, April 19, 2012 /PRNewswire/ -- Levi & Korsinsky is investigating the Board of Directors of eResearchTechnology ("eResearch" or the "Company") (Nasdaq: ERT) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Genstar Capital. Under the terms of the transaction, eResearch shareholders will receive $8.00 for each eResearch share they own.
The investigation concerns whether the eResearch Board of Directors breached their fiduciary duties to eResearch stockholders by failing to adequately shop the Company before entering into this transaction and whether Genstar Capital is underpaying for eResearch shares, thus unlawfully harming eResearch stockholders. In particular, at least one analyst set a price target of $11.00 per eResearch share.
Levi & Korsinsky is a national firm with offices in New York and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major securities lawsuits and have successfully recovered multimillion-dollar damages awards on behalf of investors. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph Levi, Esq. Eduard Korsinsky, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.com