Levi & Korsinsky is investigating the Board of Directors of NightHawk Radiology Holdings, Inc. (“NightHawk” or the “Company”) (NasdaqGM: NHWK) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to Virtual Radiologic Corporation.
New York, NY, September 28, 2010 — Levi & Korsinsky is investigating the Board of Directors of NightHawk Radiology Holdings, Inc. (“NightHawk” or the “Company”) (NasdaqGM: NHWK) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to Virtual Radiologic Corporation. Under the terms of the transaction, NightHawk shareholders will receive $6.50 in cash for each share of NightHawk common stock they own for a total transaction value of approximately $170 million. Click here to learn how to join the action: http://www.zlk.com/nighthawk-nhwk.html, or call: 877-363-5972.
The investigation concerns whether the NightHawk Board of Directors breached their fiduciary duties to NightHawk stockholders by failing to adequately shop the Company before entering into this transaction and whether Virtual Radiologic is underpaying for NightHawk shares, thus unlawfully harming NightHawk stockholders. The Company is one of the leading providers of overnight and off hour radiology services for hospitals, clinics and imaging centers and has recently reported improved financial results. For example, as recently as August 5, 2010, the Company reported Second Quarter 2010 Earnings of $0.10 per share, 3 cents better than the analyst estimates of $0.07 per share. Revenue for that quarter was $38.8 million, which compares to the estimates of $38.28 million. Our investigation focuses on whether the Board took into account NightHawk’s improving financial condition when agreeing to sell the Company.
If you own common stock in NightHawk and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://www.zlk.com/nighthawk-nhwk.html.
Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major litigations involving mergers and acquisitions. For more information, please feel free to contact any of the attorneys listed below.
Contact: Levi & Korsinsky, LLP, Joseph Levi, Esq., Eduard Korsinsky, Esq., 30 Broad Street – 15th Floor, New York, NY 10004, Tel: (212) 363-7500, Toll Free: (877) 363-5972, Fax: (212) 363-7171, www.zlk.com
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Contact:
Jared Morine
Levi & Korsinsky, LLP
30 Broad Street, 15th Floor
New York, NY 10004
212-363-7500
[email protected]
