NEW YORK, Dec. 8, 2009 (GLOBE NEWSWIRE) -- Tripp Levy PLLC announces an investigation into the proposed acquisition of QuadraMed Corp. (Nasdaq:QDHC). On December 8, 2009, Francisco Partners announced that it has entered into an agreement to acquire all of the outstanding shares of QDHC's common stock for $8.50 per share in cash and all of the outstanding shares of QDHC's Series A Cumulative Mandatory Convertible Preferred Stock for $13.7097 per share in cash. QDHC's directors and officers, who control approx. 8.4% of the company's outstanding stock have agreed to vote their shares in favor of the transaction.
The investigation concerns whether the consideration to be paid to QDHC's shareholders is grossly unfair, inadequate, and substantially below the fair or inherent value of QDHC. The investigation further concerns whether members of QDHC may have breached their fiduciary duties by not acting in QDHC shareholders' best interests in connection with the sale process of QDHC.
If you are a current holder of QDHC and would like additional information concerning this proposed transaction, including your rights, please feel free to contact us at the information below.
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