MModal, Inc. Merger Litigation (Nasdaq: MODL)
Law Office of Brodsky & Smith, LLC Announces Investigation of MModal, Inc.
BALA CYNWYD, July 3, 2012/PR Newswire/ –Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of MModal, Inc (“MModal” or the “Company”) (Nasdaq- MODL-News) relating to the proposed acquisition by JPMorgan Chase & Co., Inc. (“JPMorgan”).
Under the terms of the transaction, MModal shareholders would receive only $14.00 in cash for each share of MModal stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of MModal for not acting in the Company’s shareholders' best interests in connection with the sale process to JPMorgan. The transaction may undervalue MModal as the offer represents only a slight premium over the $13.35 per share MModal stock traded at June 20, 2012 and the $13.82 the stock traded at on July 6, 2011. In addition, an analyst has placed a $16.00 per share price target on MModal stock.
If you own shares of MModal stock and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at firstname.lastname@example.org or by calling toll free 877-LEGAL-90.
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