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Kendall Law Group Investigates Continucare Corporation for Shareholders

^{Published on 2011-06-27 06:55:25 - Market Wire}
 

DALLAS--([ BUSINESS WIRE ])--[ Kendall Law Group ], led by former federal judge Joe Kendall, is investigating Continucare Corporation (NYSE: CNU) for shareholders in connection with the proposed acquisition by Metropolitan Health Networks, Inc. The national securities firma™s investigation seeks to determine whether Continucare and its Board breached their fiduciary duties by entering into the agreement without properly shopping for a deal that would provide better value for shareholders. If you are a Continucare shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at [ skendall@kendalllawgroup.com ].

On June 27, 2011, the companies announced the definitive merger agreement under which Continucare would be acquired by Metropolitan Health Networks, in a transaction valued at approximately $416 million. Under the terms of the agreement, Continucare stockholders will receive $6.25 per share in cash, and 0.0414 of a share of Metropolitan Health Networks (AMEX: MDF) common stock for each share of Continucare/CNU common stock held. Based upon the share price of MDF at the time of the announcement, the offer price is equal to approximately $6.45 per share. Additionally, shareholders who collectively own approximately 43% percent of Continucare stock have agreed to vote in favor of the merger. The firma™s investigation seeks to determine whether Continucare and its Board undertook a fair process in negotiating the deal.

Kendall Law Group was founded by a former federal judge, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.