Robbins Umeda Announces an Investigation of the Definitive Merger Agreement Between NovaMed Inc. and an Affiliate of H.I.G. Capital LLC
Robbins Umeda LLP has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by members of the board of directors of NovaMed Inc. (NASDAQ: NOVA) in connection with their efforts to sell the company to Surgery Center Holdings, Inc., an affiliate of H.I.G. Capital, LLC. If the transaction is completed, NovaMed shareholders will receive $13.25 in cash for each share of NovaMed common stock they hold. The transaction is expected to close in the second quarter of 2011.
Robbins Umeda LLP’s investigation concerns whether the NovaMed board undertook a fair process to obtain fair consideration for its shareholders. Specifically, the investigation concerns whether members of the NovaMed board breached their fiduciary duties to its shareholders by failing to adequately shop the company before entering into the transaction with Surgery Center Holdings.
If you are a shareholder of NovaMed, plan to continue to hold your shares, and would like more information about your rights as a shareholder, please contact attorney Gregory E. Del Gaizo at 800-350-6003 or by e-mail at firstname.lastname@example.org.