NEW YORK, Oct. 11, 2013 (GLOBE NEWSWIRE) -- Levi & Korsinsky notifies investors of Greenway Medical Technologies, Inc. ("Greenway Medical" or the "Company") (NYSE:GWAY) of claims of breaches of fiduciary duty and other violations of state law against the board of directors of the Company in connection with the sale of the Company to Vista Equity Partners. Greenway Medical will merge with Vista Equity Partners' subsidiary, Vitera Healthcare Solutions. A complaint was filed in Georgia state court.
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Under the terms of the transaction, Greenway Medical shareholders will receive $20.35 for each share of Greenway Medical stock they own. Certain Greenway insiders, including the Board of Directors and certain executive officers owning a collective 50.9% of Greenway's outstanding shares, have already agreed to tender their shares. The claims concern whether the Greenway Medical Board of Directors breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether the Board of Directors is acting in shareholders' best interests.
If you own Greenway Medical common stock and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/greenway-medical-technologies-gway/.
Levi & Korsinsky is a national firm with offices in New York, New Jersey and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph Levi, Esq. Eduard Korsinsky, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.comSource:Levi & Korsinsky, LLP