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The Law Firm of Levi & Korsinsky, LLP Launches an Investigation into Possible Breaches of Fiduciary Duty by the Board of MedQui

^{Published on 2011-01-25 11:05:30 - Market Wire}
 

NEW YORK--([ BUSINESS WIRE ])--Levi & Korsinsky is investigating the Board of Directors of MedQuist Inc. (aMedQuista or the aCompanya) (Nasdaq: MEDQ) for possible breaches of fiduciary duty and other violations of state law in connection with the proposed sale of the Company to CBaySystems Holdings Limited (aCBaya). Under the terms of the transaction, CBay would exchange one share of CBay common stock for each outstanding share of MedQuist common stock that it does not currently own. CBay, which currently owns approximately 69.5% of the outstanding shares of MedQuist, has recently reached a stock-for-stock exchange agreement with certain MedQuist shareholders holding, in aggregate, approximately 12.7% of the outstanding MedQuist shares. Consummation of the proposed transaction would increase CBaya™s ownership of MedQuist to 100%.

Click here to learn more about this investigation: [ http://www.zlk.com/medquist-medq.html ], or call: 877-363-5972.

The investigation concerns, among other things, whether the consideration to be paid to MedQuist shareholders is unfair, inadequate, and substantially below the fair value of MedQuist, and whether CBay, as the controlling shareholder of the Company, as well as the board of directors of MedQuist may have breached their fiduciary duties by not acting in MedQuist shareholders' best interests in connection with the sale process of MedQuist.

If you own common stock in MedQuist and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at [ jlevi@zlk.com ] or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit [ http://www.zlk.com/medquist-medq.html ].

Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major litigations involving mergers and acquisitions. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 15th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
[ www.zlk.com ]