NEW YORK, May 27, 2011 (GLOBE NEWSWIRE) -- Levi & Korsinsky is investigating the Board of Directors of PHC, Inc. d/b/a Pioneer Behavioral Health ("PHC" or the "Company") for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Acadia Healthcare Company, Inc. The transaction will be a stock-for-stock exchange except for, among other things, a payment of $5 million to Class B stockholders.
Click here to learn how to join the action: http://zlk.9nl.com/phc-inc, or call: 877-363-5972.
The investigation concerns whether the consideration to be paid to PHC shareholders is inadequate or unfair. Furthermore, PHC CEO Bruce Shear and affiliated parties own and control 93.1% of the PHC Class B Common stock that is set to receive the payment of $5 million.
If you own common stock in PHC 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://zlk.9nl.com/phc-inc.
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
