Levi & Korsinsky, LLP Investigates Possible Breach of Fiduciary Duty by the Board of Virtual Radiologic Corporation

Levi & Korsinsky is investigating the Board of Directors of Virtual Radiologic Corporation (“Virtual Radiologic” or the “Company”) (NasdaqGM: VRAD) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to private equity firm Providence Equity Partners. Under the terms of the transaction, Virtual Radiologic shareholders will receive $17.25 in cash for each Virtual Radiologic share of common stock they own for a total transaction value of approximately $294 million. Virtual Radiologic’s co-founder and Chief Medical Officer, Dr. Eduard Michel, who owns 6.0% of the Company’s outstanding common shares, and Generation Partners, which owns 25.3% of the Company’s common shares, have executed voting agreements under which they have agreed to vote in favor of the transaction.

The investigation concerns whether the Virtual Radiologic Board of Directors breached their fiduciary duties to Virtual Radiologic stockholders by failing to adequately shop the Company before entering into this transaction and whether Providence Equity Partners is underpaying for Virtual Radiologic shares, thus unlawfully harming Virtual Radiologic stockholders.

If you own common stock in Virtual Radiologic 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 or visit http://www.zlk.com/virtual-radiologic-corporation-vrad.html.

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.

Virtual Radiologic (MM) (NASDAQ:VRAD)
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