A spate of shareholder lawsuits have been filed in the wake of the September 24 announcement that Virtual Radiologic of Eden Prairie, MN, would buy fellow teleradiology services firm NightHawk Radiology Services of Scottsdale, AZ.
Powers Taylor of Dallas; Brodsky & Smith of Bala Cynwyd, PA; and Ryan & Maniskas of Wayne, PA, are all separately investigating possible breaches of fiduciary duty and other violations of law by NightHawk's board of directors for approving the transaction.
The suit by Powers Taylor, for example, said its investigation relates to possible breaches of fiduciary duty and other violations of state law by the board of directors for approving the transaction, whether the consideration to be received by NightHawk shareholders is fair, and whether NightHawk's board of directors acted in the shareholders' best interests.
Related Reading
Virtual Radiologic bids for NightHawk, September 27, 2010
Report: Remote radiology market is active, fragmented, September 14, 2010
Virtual Radiologic forms NY alliance, August 30, 2010
NightHawk debuts peer-review program, August 12, 2010
NightHawk revenue slips in Q2, August 9, 2010
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