Former United States Securities and Exchange Commission attorney Willie
Briscoe and the securities litigation firm of Powers
Taylor, LLP are investigating the sale of Sun Healthcare Group, Inc.
(“Sun Healthcare” or “SUNH”) (NASDAQ: SUNH) to Genesis Healthcare for
shareholders. Under the proposed transaction, Sun Healthcare
shareholders will receive only $8.50 in cash for each share of Sun
Healthcare stock owned.
If you are an affected investor, and you want to learn more about the
lawsuit or join the action, contact Patrick Powers at Powers Taylor,
LLP, toll free (877) 728-9607, via e-mail at firstname.lastname@example.org,
or Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 706-9314, or via
email at WBriscoe@TheBriscoeLawFirm.com.
There is no cost or fee to you.
The definitive merger agreement involves a transaction with a total
equity value of approximately $275 million net of cash and debt acquired.
The investigation centers on whether Sun Healthcare shareholders are
receiving adequate compensation for their shares in the buyout, whether
the transaction undervalues Sun Healthcare stock, and whether Sun
Healthcare’s board attempted to obtain the highest share price for all
shareholders prior to agreeing to the deal. Notably, the proposed merger
price of $8.50 is well below the 52 week high of $8.77 per SUNH share.
According to shareholder rights attorney Willie Briscoe, “Because of the
lack of a significant premium to the shareholders, and other factors, we
believe that the transaction may undervalue Sun Healthcare stock. Our
lawsuit will seek to obtain the highest share price for all
Briscoe Law Firm, PLLC is a full service business litigation and
shareholder rights advocacy firm with more than 20 years of experience
in complex litigation and transactional matters.
Taylor, LLP is a boutique litigation law firm that handles a variety
of complex business litigation matters, including claims of investor and
stockholder fraud, shareholder oppression, shareholder derivative suits,
and security class actions.