NEW YORK--(BUSINESS WIRE)--The Law Offices of Vincent Wong are investigating the Board of Directors of Conmed Healthcare Management, Inc. (AMEX: CONM) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Ayelet Investments LLC. Under the terms of the proposed transaction, Conmed Healthcare shareholders will receive $3.85 in cash per share for a transaction of approximately $57.2 million.
The investigation concerns whether the Conmed Healthcare Board of Directors breached their fiduciary duties to Conmed Healthcare stockholders by failing to adequately shop the Company before entering into this transaction and whether Ayelet Investments LLC is underpaying for Conmed Healthcare shares. According to Thomson/First Call, at least one analyst set a price target for Conmed Healthcare at $5.00 per share.
If you own common stock in Conmed Healthcare and wish to obtain additional information, please contact Vincent Wong, Esq. either via email vw@wongesq.com, by telephone at 212.584.2740, or visit http://www.wongesq.com/conmed-healthcare.html.
Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.