MILWAUKEE, Jan. 7, 2013 (GLOBE NEWSWIRE) -- We are investigating the Board of Directors of Epocrates, Inc. ("Epocrates" or the "Company") for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to athenahealth, Inc.
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Epocrates shareholders will receive $11.75 for each share in the transaction, well below Z Epocrates's historical trading range and below analyst estimates. The merger agreement unreasonably limits prospective bids for Epocrates by (i) prohibiting solicitation of any further bids, and (ii) imposing a termination penalty should Epocrates receive and accept a superior bid. Epocrates insiders and their affiliates own significant voting stock of Epocrates, will receive millions of dollars as part of change of control arrangements, and therefore can unduly influence a sale of the Company not necessarily in the best interests of non-insiders. In light of these facts, our investigation centers on the conduct of Epocrates's Board of Directors, who have unanimously approved the transaction, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for Epocrates.
If you own common stock in Epocrates and wish to obtain additional information, please contact Guri Ademi either firstname.lastname@example.org or toll-free: 866-264-3995, or http://ademilaw.com/case/epocrates-inc.
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Ademi & O'Reilly, LLP Guri Ademi 3620 East Layton Ave. Cudahy, WI 53110 Toll Free: (866) 264-3995 Fax: (414) 482-8001 www.ademilaw.com