BOSTON, April 18, 2012 /PRNewswire/ -- Block &
Leviton LLP (blockesq.com), a Boston-based law firm representing investors
nationwide, is investigating possible breaches of fiduciary duties
by the Board of Directors of Catalyst Health Solutions, Inc.
("Catalyst" or the "Company") (Nasdaq: CHSI) with regard to a
proposed sale of the Company.
Before trading opened on April 18,
2012, Catalyst announced that it had entered into an
Agreement and Plan of Merger with SXC Health Solutions Corp.
("SXC") (Nasdaq: SXCI), pursuant to which SXC will acquire Catalyst
for a per share price of $28 in cash
plus .6606 of a share of SXC. In a press release issued this
morning, SXC touted the purchase price as totaling $81.02 per share, which would represent a premium
of 28% over Catalyst's closing price yesterday. However, SXC
has seen its stock price climb steeply over the last six months
from a low of approximately $40 per
share as recently as October 2011. Using SXC's average price
over the previous year ($58.86)
instead of SXC's closing price yesterday ($80.27), the offer price would be $66.88 per share, which would represent a premium
of only 5% over Catalyst's closing price yesterday.
Block & Leviton's investigation seeks to determine, among
other things, whether Catalyst's Board of Directors has breached
their fiduciary duties by failing to maximize shareholder value in
the proposed transaction. If you have any information
relevant to this investigation, or if you have questions about your
legal rights, please contact Block & Leviton LLP.
Block & Leviton is a Boston-based law firm representing investors
for violations of the securities laws. The firm's lawyers
have collectively been prosecuting securities cases on behalf of
investors for over 50 years.
This notice may constitute attorney advertising.
Contact:
BLOCK & LEVITON LLP
Mark Delaney,
Esq.
(617)
398-5650
mark@blockesq.com
SOURCE Block & Leviton LLP