Faruqi & Faruqi, LLP is Seeking More Cash for the Shareholders of Assisted Living Concepts Inc. (ALC)
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Assisted Living Concepts Inc. (“Assisted Living” or the “Company”) (NYSE: ALC) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to private investment firm TPG in a deal valued at approximately $278 million. Under the terms of the proposed transaction, Assisted Living’s Class A shareholders will receive $12.00 in cash for each share they own and the Company’s Class B shareholders will receive $12.90 in cash per share.
The investigation focuses on whether Assisted Living’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether and by how much this proposed transaction undervalues the Company to the detriment of Assisted Living’s shareholders.
If you own common stock in Assisted Living and wish to obtain additional information and protect your investments free of charge, please contact Juan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330.