Faruqi & Faruqi, LLP Announces Shareholder Investigation Related to the Acquisition of NovaMed, Inc. - NOVA

Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of NovaMed, Inc. (“NovaMed” or the “Company”) (NasdaqGS: NOVA) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to an affiliate of Surgery Center Holdings, Inc. for an estimated $214 million, including the assumption or repayment of debt. The proposed all-cash transaction offers NovaMed shareholders to only receive $13.25 for each share of NovaMed. A NovaMed shareholder has already asked the ambulatory surgery center operator to reconsider the proposed transaction. Noble Equity Capital Management said that the proposed transaction “does not sufficiently reward shareholders for the full value of the company.”

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Whether the NovaMed’s Board of Directors breached their fiduciary duties to NovaMed’s stockholders by failing to conduct an adequate and fair sales process to sell the Company prior to agreeing to this proposed transaction, whether the proposed transaction undervalues NovaMed’s shares and by how much this proposed transaction undervalues the Company to the detriment of NovaMed shareholders are the key focus of this investigation.

Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, through all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm’s clients.

If you own common stock in NovaMed and wish to obtain additional information, please visit us at www.faruqilaw.com/NOVA or contact Juan E. Monteverde, Esq. either via e-mail at [e-mail] or by telephone at [phone] or [phone].

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