Levi & Korsinsky
New York, NY, January 13, 2011 -- Levi & Korsinsky is investigating the Board of Directors of American Surgical Holdings, Inc. (“American Surgical” or the “Company”) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to AH Holdings, Inc. Under the terms of the transaction, American Surgical shareholders will receive $2.87 per share in cash. In addition, upon closing of the proposed transaction, American Surgical stockholders will receive an additional per share merger consideration comprised of a final cash dividend, if any, payable by the Company and computed in accordance with the definitive merger agreement and an ownership interest in CMC Associates, LLC, a subsidiary of the Company, which will be the beneficial owner of certain pending litigation and litigation rights. Certain members of American Surgical’s management team will receive a 14.9% ownership interest in the buyer
The investigation concerns whether the American Surgical Board of Directors breached their fiduciary duties to American Surgical stockholders by failing to adequately shop the Company before entering into this transaction and whether AH Holdings, Inc. is underpaying for American Surgical shares, thus unlawfully harming American Surgical stockholders.
If you own common stock in American Surgical and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://www.zlk.com/american-surgical.html.
Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. 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 litigations involving mergers and acquisitions. 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 - 15th Floor, New York, NY 10004, Tel: (212) 363-7500, Toll Free: (877) 363-5972, Fax: (212) 363-7171, www.zlk.com
Levi & Korsinsky, LLP
30 Broad St, 15th Floor
New York, NY 10004
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