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Kendall Law Group Investigates Prospect Medical Holdings Inc. Acquisition for Shareholders

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  Published in Health and Fitness on Monday, August 16th 2010 at 9:10 GMT by Market Wire
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DALLAS--([ BUSINESS WIRE ])--[ Kendall Law Group ], led by a former federal judge with attorneys that include a former U.S. Attorney, is investigating Prospect Medical Holdings Inc.(NASDAQ: PZZ) for shareholders in connection with the proposed acquisition by an entity sponsored by Leonard Green & Partners, L.P. The national securities firma™s investigation seeks to determine whether Prospect Medical Holdings and its Board breached their fiduciary duties by entering into the agreement without properly shopping for a deal that would provide better value for shareholders. If you are a Prospect Medical Holdings shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at [ skendall@kendalllawgroup.com ].

On August 16, 2010, Prospect announced that it has entered into a definitive merger agreement to be acquired for $8.50 per share in cash. Certain Prospect directors and officers that are holders of approximately 10.4 million shares of Prospect's outstanding common stock entered into a voting agreement to vote all of their shares in favor of the merger agreement. Those directors and officers have agreed to exchange more than half of their Prospect shares for equity interests in the sponsored purchasing entity. Additionally, according to Thompson/First Call, at least one analyst has set a price target of $16.20 per share of Prospect common stock.

Kendall Law Group was founded by a former federal judge Joe Kendall, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. Since leaving the bench and returning to trial work, Mr. Kendall has had tremendous success at the prosecution of patent, consumer and securities class action litigation either as lead, co-lead or liaison counsel. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.