Rigrodsky & Long, P.A. Announces Investigation Of Catalyst Health Solutions, Inc. Over Its Agreement To Be Acquired By SXC He...
April 18 2012 - 8:01AM
Business Wire
Rigrodsky & Long, P.A., a national securities firm with
offices in Delaware and New York, announces that it is
investigating potential claims against the board of directors of
Catalyst Health Solutions, Inc. (“Catalyst” or the “Company”)
(NASDAQ GS: CHSI) over the Company’s entry into an agreement to be
acquired by SXC Health Solutions (“SXC Health”) (NASDAQ GS: SXCI)
in a cash and stock transaction valued at about $4.4 billion.
Under the terms of the merger agreement, Catalyst shareholders
will receive $28.00 in cash and 0.6606 shares of SXC Health stock
for each Catalyst share, implying a purchase price of $81.02 per
Catalyst share. Following the close of the transaction, the SXC
Health board of directors will include two current Catalyst
directors. The transaction, which is subject to approval by SXC
Health and Catalyst shareholders, U.S. antitrust approval and other
customary closing conditions, is expected to close in the second
half of 2012.
The investigation concerns whether Catalyst’s board of directors
failed to adequately shop the Company and obtain the best price
possible for Catalyst’s shareholders before entering into an
agreement with SXC Health.
If you own the common stock of Catalyst and purchased your
shares before April 18, 2012, 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
Scott J. Farrell, Esquire or Peter Allocco of Rigrodsky & Long,
P.A., 825 East Gate Boulevard, Suite 300, Garden City, New York
11530 toll free at (888) 969-4242, by e-mail to
info@rigrodskylong.com, or at:
http://www.rigrodskylong.com/investigations/catalyst-health-solutions-inc-chsi.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware
and Garden City, New York, regularly litigates securities class,
derivative and direct actions, shareholder rights litigation and
corporate governance litigation, including claims for breach of
fiduciary duty and proxy violations in the Delaware Court of
Chancery and in state and federal courts throughout the United
States.
Attorney advertising. Prior results do not guarantee a similar
outcome.
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