Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of FONAR Corporation ("FONR" or the "Company") (NASDAQ: FONR) to FONAR, LLC and FONAR Acquisition Sub, Inc. ("(collectively, "Buyer")"). Under the terms of the merger, the Buyer will acquire all of the issued and outstanding shares of the Company (other than shares owned by Buyer, the members of the Acquisition Group or shares held in treasury by the Company or its direct or indirect subsidiaries), for an amount in cash equal to $19.00 per share of the Company's common stock, $19.00 per share of the Company's Class B common stock, $6.34 per share of the Company's Class C common stock and $10.50 per share of the Company's Class A non-voting preferred stock (the "Transaction").
The FONR The merger investigation concerns whether the Board of FONR has harmed stockholders by agreeing to enter into this transaction and whether all material facts have been properly disclosed to stockholders.
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