NEW ORLEANS -- (Business Wire)

Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) announce that KSF is investigating the sale of Assisted Living Concepts Inc. (“ALC” or “Company”) (NYSE: ALC) to private investment firm TPG. Under the terms of the sale, Class A shareholders will receive $12 for each share that they own and Class B shareholders will receive $12.90 for each share that they own.

KSF’s investigation focuses on whether ALC and/or its officers and directors secured sufficient value for shareholders and/or violated state or federal securities laws. KSF’s investigation has uncovered that the Chairman of the Board of ALC is also the chairman, CEO, and a director of Thornridge Holding Limited (“Thornridge”).According to ALC’s proxy statement, Thornridge owns stock that represents 56% of the total voting power of ALC common stock, voting together as a single class.It further appears that, while the sale was being negotiated between ALC and TPG and before the agreement was made public, Thornridge negotiated an agreement to vote all of its shares in favor of the sale. KSF’s investigation also has revealed that the proxy statement fails to disclose significant material information regarding the sale.

If you have information that would assist KSF in its investigation, or would like to discuss your legal rights, you may, without obligation or cost to you, e-mail or call KSF Managing Partner Lewis S. Kahn (lewis.kahn@ksfcounsel.com) or attorney Michael Palestina (michael.palestina@ksfcounsel.com) toll free at 855-768-1857 or via cell phone any time at 504-236-7315.

About Kahn Swick & Foti, LLC

KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on transactional litigation, as well as securities class action and shareholder derivative litigation. With offices in New York and Louisiana, KSF's lawyers have significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders.

To learn more about KSF, you may visit www.ksfcounsel.com.

Contacts:

Kahn Swick & Foti, LLC
Michael Palestina, Esq., 855-768-1857
or after hours via cell phone 504-236-7315
michael.palestina@ksfcounsel.com

Source: Kahn Swick & Foti, LLC