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Law Offices of Howard G. Smith Announces Investigation on Behalf of Shareholders of A.D.A.M., Inc.

^{Published on 2010-08-31 18:00:28 - Market Wire}
 

BENSALEM, Pa.--([ BUSINESS WIRE ])--Law Offices of Howard G. Smith announces that it is investigating potential claims against the board of directors of A.D.A.M., Inc. (aA.D.A.M.a or the aCompanya) (NASDAQ:ADAM) related to the Companya™s agreement to be acquired by Ebix, Inc. (aEbixa). The proposed transaction is valued at approximately $66 million.

Under the terms of the merger agreement entered into by the parties, A.D.A.M. shareholders will receive 0.3122 shares of Ebix common stock for each share of A.D.A.M. common stock they own. The 0.3122 exchange ratio is based on a $19.06 agreed value of Ebix common stock for purposes of the merger agreement. The board of directors of A.D.A.M. has unanimously approved the transaction. Following the closing of the transaction, A.D.A.M. shareholders will own approximately 7 percent of the combined company, and A.D.A.M. will operate as a wholly owned subsidiary of Ebix. The investigation concerns possible breaches of fiduciary duty and other violations of law related to approval of the proposed transaction by A.D.A.M.a™s board of directors.

If you own shares of A.D.A.M., if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to [ howardsmith@howardsmithlaw.com ], or visit our website at [ http://www.howardsmithlaw.com ].