SOURCE: Levi & Korsinsky, LLP

Levi & Korsinsky, LLP

August 05, 2011 12:34 ET

The Law Firm of Levi & Korsinsky, LLP Notifies Shareholders of Claims of Breaches of Fiduciary Duty by the Board of Allied Healthcare International Inc. in Connection With the Sale of the Company to the Saga Group Limited

NEW YORK, NY--(Marketwire - Aug 5, 2011) - Levi & Korsinsky notifies shareholders of Allied Healthcare International Inc. ("Allied" or the "Company") (NASDAQ: AHCI) 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 Saga Group Limited. Under the terms of the transaction, Allied shareholders will receive $3.50 for each share of Allied stock they own. The total purchase price for all outstanding Allied shares, including options, is approximately $175 million. A complaint has been filed in New York State court.

Click here to learn how to join the action: http://zlk.9nl.com/AHCI, or call: 877-363-5972.

The investigation concerns whether the Allied Board of Directors breached their fiduciary duties to Allied stockholders by failing to adequately shop the Company before entering into this transaction and whether Saga Group is underpaying for Allied shares, thus unlawfully harming Allied stockholders. In particular, the Company reported a book value of $3.66 per share, for the most recent quarter.

If you own common stock in Allied 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://www.zlk.com/allied-healthcare-international-ahci.html.

Levi & Korsinsky is a national firm with offices in New York, California and Washington D.C. The firm has extensive expertise in prosecuting investor securities litigation 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 Information

  • 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