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The Briscoe Law Firm and Powers Taylor, LLP Announce Investigation of Allied Healthcare International Inc.

^{Published on 2011-08-01 12:10:54 - Market Wire}
 

DALLAS--([ BUSINESS WIRE ])--Former United States Securities and Exchange Commission attorney [ Willie Briscoe ] and the securities litigation firm of [ Powers Taylor, LLP ] are investigating the acquisition of Allied Healthcare International Inc. (aAllied Healthcarea or aAHCIa) (NASDAQ: AHCI) on behalf of shareholders. Allied Healthcare recently entered into an acquisition agreement that will pay Allied Healthcare shareholders $3.90 in cash for each share of Allied Healthcare/AHCI owned.

"We are investigating the fairness of the proposed transaction to Allied Healthcare shareholders, whether the shareholders are being underpaid for their stock, and whether Allied Healthcarea™s Board of Directors acted in the shareholdersa™ best interests"

If you are an affected shareholder, and you want to learn more about the investigation or join the action, 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 definitive acquisition agreement involves an all cash transaction valued at approximately $175 million. The transaction is expected to be completed in the fourth calendar quarter of 2011.

aWe are investigating the fairness of the proposed transaction to Allied Healthcare shareholders, whether the shareholders are being underpaid for their stock, and whether Allied Healthcarea™s Board of Directors acted in the shareholdersa™ best interests,a said shareholder rights attorney Willie Briscoe. In particular, although Allied Healthcare reported that the acquisition price represents a 59% premium over AHCIa™s closing price the day prior to the announcement, in the most recent quarter, Allied Healthcare reported a book value of $3.66 per share and the company has recently reported strong financial results. aBased on these and other factors, we are additionally investigating whether the transaction undervalues the stock, and our anticipated lawsuit will seek to obtain the highest share price for all shareholders,a said Willie Briscoe.

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 firm that handles a variety of complex business litigation matters nationwide, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.