NEW YORK, Jan. 17, 2013 /PRNewswire/ -- Levi & Korsinsky notifies investors of Epocrates, Inc. ("Epocrates" or the "Company") (NasdaqGS: EPOC) of claims of breaches of fiduciary duty and other violations of state law against the board of directors of the Company in connection with the sale of the Company to athenahealth, Inc. (Nasdaq: ATHN). A complaint was filed in California state court.
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Under the terms of the transaction, Epocrates shareholders will receive $11.75 for each share of Epocrates stock they own. The transaction has a total approximate value of $293 million. The claims concern whether the Epocrates Board of Directors breached their fiduciary duties to stockholders by failing to adequately shop the Company before entering into this transaction and whether athenahealth, Inc. is underpaying for Epocrates, thus unlawfully harming Epocrates stockholders. In particular, at least one analyst set a price target for Epocrates stock at $15.00 per share.
If you own common stock in Epocrates 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 http://zlk.9nl.com/epocrates-epoc/.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, and Washington, D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. 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 securities lawsuits and have successfully recovered multimillion-dollar damages awards on behalf of investors. 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 - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (866) 367-6510
www.zlk.com
SOURCE Levi & Korsinsky, LLP