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Kendall Law Group Investigates HealthGrades, Inc. Acquisition for Shareholders

^{Published on 2010-07-28 14:50:55 - Market Wire}
 

DALLAS--([ BUSINESS WIRE ])--[ Kendall Law Group ], led by a former federal judge Joe Kendall and a former U.S. Attorney, is investigating HealthGrades, Inc. (NASDAQ: HGRD) for shareholders in connection with the proposed acquisition by Vestar Capital Partners V, L.P. The national securities firma™s investigation seeks to determine whether HealthGrades and its Board breached their fiduciary duties by entering into the agreement without properly shopping for a deal that would provide better value for shareholders. If you are a HealthGrades shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at [ skendall@kendalllawgroup.com ].

On July 28, 2010, the companies announced that they had entered into a definitive agreement under which all outstanding Health Grades shares would be acquired for $8.20 per share by a Vestar affiliate. The merger is a two step process where the Vestar affiliate will attempt to gain at least a majority of HealthGradesa™ shares on a fully-diluted basis through an initial tender offer. Following the completion of the tender offer, any remaining publicly-held shares of HealthGrades would be acquired by the Vestar affiliate at $8.20 per share. Executive officers of HealthGrades beneficially owning approximately 21% of HealthGradesa™ fully diluted shares have already agreed to either tender or otherwise sell their shares to the Vestar affiliate. Neither the merger agreement nor details regarding the HealthGrades insider tender/sale agreements were publicly available at the time of this press release.

Kendall Law Group was founded by a former federal judge, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. Since leaving the bench and returning to trial work, Mr. Kendall has had tremendous success at the prosecution of patent, consumer and securities class action litigation either as lead, co-lead or liaison counsel. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.