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Law Offices of Howard G. Smith Announces Investigation of Continucare Corporation

^{Published on 2011-06-27 16:35:35 - Market Wire}
 

BENSALEM, Pa.--([ BUSINESS WIRE ])--Law Offices of Howard G. Smith announces that it is investigating potential claims against the board of directors of Continucare Corporation (aContinucarea or the aCompanya) (NYSE:CNU) related to the Companya™s agreement to be acquired by Metropolitan Health Networks, Inc. (aMetropolitana). The proposed cash-and-stock transaction is valued at approximately $416 million.

Under the terms of the definitive merger agreement entered into by the parties, Continucare shareholders will receive $6.25 in cash and 0.0414 shares of Metropolitan common stock for each share they own of Continucare common stock. Continucarea™s board of directors unanimously approved the merger agreement. The proposed transaction is expected to close in the third quarter of 2011. The investigation concerns possible breaches of fiduciary duty and other violations of law related to approval of the proposed transaction by Continucarea™s board of directors.

If you are a shareholder of Continucare, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to [ howardsmith@howardsmithlaw.com ], or visit our website at [ http://www.howardsmithlaw.com ].