Robbins Umeda LLP Announces an Investigation of Catalyst Health Solutions, Inc.
April 18 2012 - 4:30PM
Business Wire
Shareholder rights firm Robbins Umeda LLP has commenced an
investigation into possible breaches of fiduciary duty and other
violations of the law by members of the board of directors of
Catalyst Health Solutions, Inc. (NASDAQ: CHSI) in connection with
their efforts to merge the company with SXC Health Solutions
Corporation (NASDAQ: SXCI). Concerned shareholders who would like
more information about their rights and potential remedies can
contact attorney Gregory E. Del Gaizo at (800) 350-6003,
info@robbinsumeda.com, or via the shareholder information form on
the firm's website.
On April 18, 2012, Catalyst announced that it had entered into a
definitive merger agreement to combine with SXC. According to the
terms of the deal, Catalyst and SXC will merge through a cash and
stock transaction. Pursuant to the agreement, Catalyst shareholders
will receive $28.00 in cash and 0.6606 shares of SXC stock for each
share of Catalyst they own, which implies a purchase price of
$81.02 per Catalyst share. The transaction is expected to close in
the second half of 2012.
Robbins Umeda LLP's investigation focuses on whether Catalyst's
board is undertaking a fair process to obtain maximum value and
adequately compensate shareholders in light of the company's recent
financial results. On February 21, 2012, the company reported
revenue and earnings per share that exceeded analyst projections
and represented substantial increases over 2010 figures.
Specifically, Catalyst reported that full year revenue increased
42% to $5.33 billion and earnings per share increased 23% to $2.37.
Given these impressive financial results, Robbins Umeda LLP is
examining the board's decision to sell Catalyst rather than allow
shareholders to continue to participate in the company's continued
success and future growth prospects.
Robbins Umeda attorneys highlight that Catalyst shareholders
have the option to file a class action lawsuit against the company
to secure the best possible price for the company's shareholders
and the disclosure of material information to shareholders so they
can vote on the transaction in an informed manner.
Robbins Umeda LLP is a nationally recognized leader in
securities litigation and shareholder rights law. The firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits, and has helped its
clients realize more than $1 billion of value for themselves and
the companies in which they have invested. For more information,
please go to http://www.robbinsumeda.com.
Press release link:
http://www.robbinsumeda.com/shareholders-rights-blog/catalyst-health-solutions-inc/
Attorney Advertising. Past results do not guarantee a similar
outcome.
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