NEW YORK, March 18, 2014 (GLOBE NEWSWIRE) -- Levi & Korsinsky notifies investors of Emeritus Corp. ("Emeritus" or "the Company") (NYSE:ESC) of claims of breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Brookdale Senior Living Inc. ("Brookdale") (NYSE:BKD). A complaint was filed in Washington state court.
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Under the terms of the transaction, Emeritus shareholders will receive 0.95 shares of Brookdale common stock for each share of Emeritus stock they own. The deal has a total approximate value of $2.8 billion, including the assumption of debt. The claims concern whether the Emeritus Board breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Brookdale is underpaying for Emeritus shares.
If you own Emeritus 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/emeritus-esc.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm's 26 attorneys have 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: (866) 367-6510 www.zlk.comSource:Levi & Korsinsky, LLP