NEW YORK, Jan. 7, 2013 (GLOBE NEWSWIRE) -- Pomerantz Grossman Hufford Dahlstrom & Gross LLP is investigating claims on behalf of investors of Epocrates Inc. (ISIN: US29429D1037) ("Epocrates" or the "Company")concerning the proposed acquisition of Epocrates by Athenahealth Inc. Athenahealth will acquire Epocrates in a transaction valued at approximately $293 million.
The investigation concerns whether the Epocrates directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the agreement, Epocrates shareholders would receive $11.75 per share in cash per share of common stock. However, at least one research analyst has set a target share price of $15.00 per share.
Epocrates shareholders seeking more information about this acquisition are advised to contact Gustavo Bruckner at gfbruckner@pomlaw.com, 212-661-1100 or 888-476-6529, ext. 302.
The Pomerantz Firm, with offices in New York, Chicago and San Diego, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 75 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of defrauded investors. See www.pomerantzlaw.com.