NEW YORK, Nov. 10, 2008 (GLOBE NEWSWIRE) -- Levi & Korsinsky ("L&K") is investigating breaches of fiduciary duty and other violations of state law by the Board of Directors of Emageon Inc. ("Emageon" or the "Company") (Nasdaq:EMAG) arising out of their attempt to sell the Company to Health Systems Solutions Inc. Under the terms of the agreement, Emageon shareholders would receive $2.85 in cash for every Emageon share they own, for a total sale price of approximately $62 million. The price is unfair given that Emageon stock traded at $2.90 per share as recently as June 23, 2008 and at least one analyst has a $4 per share price target for Emageon stock. Furthermore, the sales process the Company conducted was flawed, given that in contravention of their fiduciary duties to maximize shareholder value, the Company's Board agreed to a "no-solicitation" provision and a $3 million termination fee which will ensure no superior offer will ever be forthcoming. The proposed acquisition is subject to customary conditions and regulatory approvals.
If you own common stock in Emageon, Inc. and wish to obtain additional information, please contact us at the number listed below or visit http://www.zlk.com/emag.html
Levi & Korsinsky has experience in prosecuting investor securities litigation and an extensive practice in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation.