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Rigrodsky & Long, P.A. Announces Investigation of HealthSpring, Inc.

^{Published on 2011-10-24 07:31:10 - Market Wire}
 

WILMINGTON, Del.--([ BUSINESS WIRE ])--[ Rigrodsky & Long, P.A. ] announces that it is investigating potential claims against the board of directors of HealthSpring, Inc. (aHealthSpringa or the aCompanya) (NYSE: [ HS ]) concerning possible breaches of fiduciary duty and other violations of law related to the Companyas entry into an agreement to be acquired by Cigna Corporation (aCignaa) in a transaction with an approximate value of approximately $3.8 billion.

Click here to learn more and to discuss your shareholder rights: [ http://investigations.rigrodskylong.com/healthspringinc-hs/ ].

Under the proposed agreement, HealthSpring shareholders will receive $55.00 per share in cash for every share of HealthSpring common stock they hold.

The investigation concerns whether HealthSpringas board of directors adequately shopped the Company to obtain the best price possible for HealthSpringas shareholders before entering into the agreement with Cigna. Indeed, as recent as August 2, 2011, the Company announced better-than-expected quarterly results. Herb Fritch, HealthSpringas Chairman and CEO, commented: aWe are pleased to report a strong second quarter and first six months of the year. The continued favorable utilization environment, coupled with continued progress in our quality and physician engagement strategies, positively impacted results across our Medicare Advantage plans. In addition, negative trends that impacted our stand-alone prescription drug plans in the first quarter have improved, resulting in a better than expected PDP MLR. As a result of these factors, among others, we are increasing our earnings per share guidance for the year.a

If you own the common stock of HealthSpring and purchased your shares before October 24, 2011, 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 [ Seth D. Rigrodsky, Esquire ] or [ Noah R. Wortman, Case Development Director ], of Rigrodsky & Long, P.A., 919 N. Market Street, Suite 980, Wilmington, Delaware 19801, by telephone at (888) 969-4242, or by e-mail to [ info@rigrodskylong.com ].

[ Rigrodsky & Long, P.A. ], with offices in Wilmington, Delaware and Garden City, New York, regularly litigates [ securities class, derivative and direct actions, shareholder rights litigation ] and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.

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