logo
Share SHARE
FONT-SIZE Plus   Neg

Law Office Of Brodsky & Smith Reveals Investigation Of EResearch Technology

Law office of Brodsky & Smith LLC said Saturday it is investigating potential claims against the Board of Directors of eResearchTechnology Inc. (ERT) relating to the proposed acquisition by Genstar Capital.

Under the terms of the transaction, eResearch shareholders would receive only $8.00 in cash for each share of eResearch stock they own. According to Brodsky & Smith, the investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of eResearch for not acting in the shareholders' interests in connection with the sale process to Genstar.

Brodsky & Smith said the transaction may undervalue eResearch as eResearch stock traded at $8.11 as recently as April 3, 2012. In addition, an analyst has set a price target on eResearch stock at $9.00 per share, it added.

Pennsylvania-based eResearch Technology Inc. provides technology-driven services and medical devices primarily in North America, the United Kingdom, and Germany.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
French telecommunications operator Orange SA reported Thursday higher net profit in its fiscal year 2016 mainly on income from discontinued operations. Operating income, meanwhile, declined, despite increased revenues. For fiscal 2017, the company projects higher adjusted EBITDA, a key earnings metric. Fast-food giant McDonald's plans to offer big discounts on its sodas and coffee, aiming to meet the declining customer visits, Bloomberg reported Wednesday. The company is likely to offer $1 sodas of any size for a limited time starting in April across the U.S. Further, McCafe specialty drinks, which normally range from $2.69 and $4, will be sold for $2 for a limited time. Electric car maker Tesla Motors Inc. (TSLA), Wednesday reported a loss for the fourth quarter that was narrower than last year. The company said it expects to start volume production of Model 3 by September. Palo Alto, California-based Tesla reported fourth-quarter loss of $121.3 million or $0.78...
comments powered by Disqus
Follow RTT