Shareholder Investigation -- Law Office of Jonathan M. Stein, P.L., Investigates Possible Breach of Fiduciary Duty by the Boa...
February 08 2011 - 2:10PM
Business Wire
The Law Office of Jonathan M. Stein, P.L. is investigating the
Board of Directors of RehabCare Group, Inc. ("RehabCare" or the
"Company") (NYSE:RHB) for possible breaches of fiduciary duty and
other violations of state law in connection with their attempt to
complete a sale of the Company to Kindred Healthcare, Inc.
(“Kindred”) (NYSE:KND). Under the terms of the proposed
transaction, RehabCare shareholders are to receive $26 per share in
cash and 0.471 of a share of Kindred common stock. Based upon the
average value of Kindred common stock, as defined, during the ten
trading days preceding the signing of the merger agreement, each
RehabCare stockholder will receive consideration with a current
value of approximately $35 per share.
The investigation involves whether the Board of Directors of
RehabCare breached their fiduciary duties to RehabCare stockholders
by failing to adequately shop the Company before agreeing to enter
into the transaction and whether RehabCare has disclosed all
material information to shareholders about the proposed
transaction. Specifically, over the past six months, RehabCare
shares have increased over 56% from August 24, 2010 to February 7,
2011.
If you own stock in RehabCare and wish to obtain additional
information about your rights, or if you have information regarding
the above investigation, please contact Jonathan M. Stein, Esq.
either via email at jstein@jonathansteinlaw.com or by telephone at
(561) 961-2244.
The Law Office of Jonathan M. Stein, P.L. represents
shareholders and consumers in complex litigation, including class
action and derivative litigation. More information about the firm
is available through its website, www.jonathansteinlaw.com, and
upon request from the firm. Jonathan M. Stein is the attorney
responsible for the content of this release.
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