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The Law Firm of Levi & Korsinsky, LLP Launches an Investigation into Possible Breaches of Fiduciary Duty by the Board of NovaMed

01-24-2011 03:58 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Levi & Korsinsky, LLP

Levi & Korsinsky is investigating the Board of Directors of NovaMed, Inc. (“NovaMed” or the “Company”) (Nasdaq: NOVA) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to an affiliate of Surgery Center Holdings, Inc.

New York, NY, January 22, 2011 -- Levi & Korsinsky is investigating the Board of Directors of NovaMed, Inc. (“NovaMed” or the “Company”) (Nasdaq: NOVA) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to an affiliate of Surgery Center Holdings, Inc. Under the terms of the transaction, NovaMed shareholders will receive $13.25 per share in cash for a total transaction value of approximately $214 million, including the assumption of debt.

Click here to learn how to join the action: http://www.zlk.com/novamed-nova.html, or call: 877-363-5972.

The investigation concerns whether the NovaMed Board of Directors breached their fiduciary duties to NovaMed stockholders by failing to adequately shop the Company before entering into this transaction and whether Surgery Center Holdings is underpaying for NovaMed shares, thus unlawfully harming NovaMed stockholders. In particular, at least one analyst set a price target of $18 per share for NovaMed stock and the offer price offers no premium over the $13.25 share price that NovaMed stock traded at as recently as January 18, 2011.

If you own common stock in NovaMed and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://www.zlk.com/novamed-nova.html.

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 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:
Joanna Chlebus
Levi & Korsinsky, LLP
30 Broad Street, 15th Floor
New York, NY 10004
212-363-7500
jchlebus@zlk.com
http://www.zlk.com

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