February 26, 2013
Bernstein Liebhard LLP is investigating whether the Board of Directors of Assisted Living Concepts, Inc. (“ALC” or the “Company”) (NYSE: ALC) breached its fiduciary duty to its shareholders in agreeing to sell ALC to TPG.
Under the terms of the agreement, ALC shareholders will receive $12.00 in cash for each share of Class A common stock and $12.90 in cash for each share of Class B common stock they own. The investigation is focused on the potential unfairness of the price to ALC shareholders and the process by which the ALC Board of Directors considered and approved the transaction.
Bernstein Liebhard LLP has pursued hundreds of securities, consumer and shareholder rights cases and recovered over $3 billion for its clients. It has been named to The National Law Journal’s “Plaintiffs’ Hot List” in each of the last ten years.