Health & Fitness
Tue, August 28, 2012
DALLAS--([ BUSINESS WIRE ])--Former United States Securities and Exchange Commission attorney [ Willie Briscoe ] and the securities litigation firm of [ Powers Taylor, LLP ] are investigating the sale of [ Coventry Health Care, Inc ]. (aCoventrya or aCVHa) (NYSE: CVH) to Aetna for shareholders. Under the proposed transaction, Coventry shareholders will only receive $27.30 in cash and 0.3885 Aetna common shares for each share of Coventry stock owned, which amounts to approximately $42.08 per share based upon Aetnaas closing price on August 17.
"Due to the lack of a significant premium to the shareholders and other factors, we believe that the transaction may undervalue Coventry/CVH stock. Our lawsuit will seek to obtain the highest share price for all shareholders"
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 [ patrick@powerstaylor.com ], 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.
Under the terms of the definitive merger agreement, Aetna will acquire Coventry in a transaction valued at $7.3 billion dollars and is expected to close in mid-2013.
The investigation centers on whether Coventry shareholders are receiving adequate compensation for their shares in the buyout, whether the transaction undervalues Coventry stock, and whether Coventryas board attempted to obtain the highest share price for all shareholders prior to agreeing to the deal. aDue to the lack of a significant premium to the shareholders and other factors, we believe that the transaction may undervalue Coventry/CVH stock. Our lawsuit will seek to obtain the highest share price for all shareholders,a said shareholder rights attorney Willie Briscoe.
[ The 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.
[ Powers 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.
