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, firstname.lastname@example.org,
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
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/
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