Law Offices of Howard G. Smith Announces Investigation On Behalf of Shareholders of Emergent Group Inc., in Connection with t...

Law Offices of Howard G. Smith announces that it is investigating potential claims against the board of directors of Emergent Group Inc. (“Emergent” or the “Company”) (AMEX:LZR) related to the Company’s agreement to be acquired by Universal Hospital Services, Inc. (“Universal”). The proposed transaction is valued at approximately $70 million, including assumed debt.

Under the terms of the definitive merger agreement entered into by the parties, Universal will make a cash tender offer to acquire all outstanding shares of Emergent for $8.46 per share. Emergent stock traded as high as $8.65 per share as recently as December 14, 2010. The tender offer is expected to commence in early March 2011, and the transaction is expected to close within 45 to 90 days. If the transaction is completed, the Company will be merged into a wholly owned subsidiary of Universal. The investigation concerns possible breaches of fiduciary duty and other violations of law related to approval of the proposed transaction by Emergent’s board of directors.

If you are a shareholder of Emergent, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at [phone], Toll Free at [phone], or by email to [e-mail], or visit our website at http://www.howardsmithlaw.com.