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
Even after two years of thoroughly searching across the Indian Ocean, using modern technologies and devices, there is no clue about the Malaysian airline that vanished on March 8, 2014. Internet access is growing worldwide, but there is still a long way to go before the entire world is completely wired, a study from the Pew Research Center has found. The study also noted that men have greater access to the Internet than women in many nations. Backtracking on its early announcements on digital privacy, WhatsApp is planning to share member information, phone numbers and analytical data with Facebook, to make revenue from the platform.
comments powered by Disqus
Follow RTT