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

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  Published in Health and Fitness on Wednesday, May 25th 2011 at 10:05 GMT by Market Wire
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NEW YORK--([ BUSINESS WIRE ])--Levi & Korsinsky is investigating the Board of Directors of PHC, Inc. d/b/a Pioneer Behavioral Health (aPHCa or the aCompanya) (AMEX: PHC) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Acadia Healthcare Company, Inc. The transaction will be a stock-for-stock exchange except for, among other things, a payment of $5 million to Class B stockholders.

Click here to learn how to join the action: [ http://www.zlk.com/phc-inc-phc.html ], or call: 877-363-5972.

The investigation concerns whether the consideration to be paid to PHC shareholders is inadequate or unfair. Furthermore, PHC CEO Bruce Shear and affiliated parties own and control 93.1% of the PHC Class B Common stock that is set to receive the payment of $5 million.

If you own common stock in PHC 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/phc-inc-phc.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.