Health & Fitness
Health and Fitness
Health and Fitness
Thu, July 14, 2011
Wed, July 13, 2011 The Briscoe Law Firm and Powers Taylor LLP Announce Investigation of Conmed Healthcare Management, Inc.
DALLAS--([ BUSINESS WIRE ])--[ The Briscoe Law Firm, PLLC ], founded by a former enforcement attorney for the United States Securities and Exchange Commission, and the securities litigation firm of [ Powers Taylor, LLP ] are investigating potential legal claims against the Board of Directors of Conmed Healthcare Management, Inc. (aConmed Healthcarea or aCONMa) (NYSE Amex: CONM) related to the acquisition of Conmed Healthcare by Ayelet Investments LLC, an affiliate of James H. Desnick, M.D.
The definitive acquisition agreement involves an all-cash transaction valued at approximately $57.2 million. Under the proposed buyout, Conmed Healthcare shareholders will receive only $3.85 in cash for each share of Conmed Healthcare/CONM common stock they hold.
The firms are investigating the fairness of the proposed transaction to Conmed Healthcare shareholders, whether the shareholders are being underpaid for their stock, and whether Conmed Healthcarea™s Board of Directors acted in the shareholdersa™ best interests. In particular, James H. Desnick, M.D. already beneficially owns approximately 9.4% of the outstanding common stock of Conmed Healthcare. Further, Conmed Healthcare/CONM shares closed at $3.95 per share as recently as June 24, 2011, and at least one analyst has set a target price of $5 per share for Conmed Healthcare/CONM stock. Based on these and other factors, the firms are critically evaluating whether Conmed Healthcarea™s Board of Directors considered all potential alternatives to the deal and obtained the best price for the shareholders.
If you currently own shares of Conmed Healthcare/CONM and would like additional information regarding this investigation, or if you have information regarding the allegations involved in this transaction, please contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at [ patrick@powerstaylor.com ], or Willie Briscoe at The Briscoe Law Firm, PLLC toll free (877) 397-5991, or via email at [ WBriscoe@TheBriscoeLawFirm.com ]. There is no cost or fee to you.
The Briscoe Law Firm is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation matters.
Powers Taylor, LLP is a boutique litigation law firm with a nationwide practice representing clients in a variety of complex business litigation matters nationwide, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.
