Robbins Umeda LLP Is Investigating RehabCare Group, Inc. Acquisition for Shareholders
February 08 2011 - 3:11PM
Business Wire
Robbins Umeda LLP, a shareholder rights litigation firm, is
investigating possible breaches of fiduciary duty and other
violations of state law by members of the board of directors of
RehabCare Group, Inc. (NYSE: RHB) in connection with their efforts
to sell the company to Kindred Healthcare, Inc. (NYSE: KND).
On February 8, 2011, RehabCare and Kindred announced the
definitive merger agreement under which Kindred will acquire
RehabCare in a cash and stock transaction valued at approximately
$35.18 per share. Under the terms of the current agreement,
RehabCare shareholders will receive 0.471 newly-issued shares of
Kindred plus $26.00 in cash for each share of RehabCare common
stock. The merger is expected to close on or about June 30,
2011.
The investigation seeks to determine whether RehabCare's board
of directors undertook a fair process to obtain maximum value for
its shareholders. In particular, Robbins Umeda is investigating
whether this price adequately compensates shareholders in light of
RehabCare's bright prospects. For example, on February 8, 2011,
RehabCare reported strong quarterly earnings of $0.66 per share
that handily that beat analyst estimates of $0.61 per share.
If you own stock in RehabCare and would like more information
about your rights as a shareholder, please contact attorney Gregory
E. Del Gaizo at 800-350-6003 or by e-mail at
info@robbinsumeda.com.
Robbins Umeda LLP represents individual and institutional
shareholders in derivative, direct, and class action lawsuits. The
law firm's skilled litigation teams include former federal
prosecutors, former defense counsel from top multinational
corporate law firms, and career shareholder rights attorneys.
Robbins Umeda LLP 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.
Attorney Advertising. Past results do not guarantee a similar
outcome. We welcome you to contact us today to discuss your
case.
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