updated 3/7/2011 9:45:44 AM ET 2011-03-07T14:45:44

SAN DIEGO, March 7, 2011 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that an investor in Emergency Medical Services Corporation (NYSE:EMS) shares filed a lawsuit in State Court against members of board of directors of Emergency Medical Services Corp. alleging breaches of fiduciary duty arising out of their attempt to sell Emergency Medical Services to private equity firm Clayton Dubilier & Rice LLC via an unfair process at an unfair price.

Those who are current investors in Emergency Medical Services Corporation (EMS) and purchased PLD shares prior to Feb 14, 2011, should contact the Shareholders Foundation by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.

On Monday, Feb 14, 2011, Emergency Medical Services Corporation and Clayton, Dubilier & Rice, LLC announced a definitive merger agreement under which EMS stockholders would receive, at the closing of the transaction, $64.00 in cash for each share of Emergency Medical Services Corp Class A common stock and Class B common stock and each LP Exchangeable Unit.

However the plaintiff alleges, among other things, that the price is unfair to EMS investors, because data shows that private-equity firms had announced almost 400 pending or completed acquisitions of U.S. health products and services companies in the past five years, with an average size of $449.4 million and a typical is premium of 30% but here rather than providing a premium, the offer represents a 9.4% discount to EMS's closing stock price on Feb 11 of $70.66.

In addition, so the plaintiff, the price is inadequate because analysts have set price targets for EMS stock above the $64 offer price, with a high target of $76. In addition Emergency Medical Services Corporation performed exceptionally well for its shareholders in the past.

Furthermore the plaintiff alleges the sale process is unfair because of the impact of Onex Corporation and its affiliates, which own 31% of Emergency Medical Services. The plaintiff claims that Onex Corporation and its affiliates have sufficient voting power to approve the merger, and already have agreed to vote in favor of adoption of the Merger Agreement.

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring service and an investor advocacy group which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

CONTACT: Shareholders Foundation, Inc.
         Trevor Allen
         +1 (858) 779-1554
         mail@shareholdersfoundation.com
         3111 Camino Del Rio North
         Suite 423
         San Diego, CA 92108

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved

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