MILWAUKEE, July 30, 2013 (GLOBE NEWSWIRE) -- We are investigating the Board of Directors of Health Management for possible breaches of fiduciary duty and other violations of state law in connection with the sale of Health Management to Community Health.
Click here to learn how to join the action: http://www.ademilaw.com/case/health-management or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
Health Management's long-term financial outlook is very positive and yet Health Management shareholders will receive only $13.78 for their shares more than 7% lower than recent trading prices. Community Health is well aware of Health Management's improving financial metrics and is purchasing Health Management at a substantial discount. The merger agreement unreasonably limits prospective bids for Health Management by (i) prohibiting solicitation of any further bids, and (ii) imposing a termination penalty should Health Management receive and accept a superior bid. Health Management insiders, their affiliates and other majority shareholders own significant voting units of Health Management, and will receive millions of dollars as part of change of control arrangements, and therefore can unduly influence a sale of Health Management not necessarily in the best interests of non-insider shareholders. In light of these facts, our investigation centers on the conduct of Health Management's Board of Directors, who have unanimously approved the transaction, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for Health Management given its current financial condition and prospects.
If you own shares of Health Management and wish to obtain additional information, please contact Guri Ademi either at email@example.com or toll-free: 866-264-3995, http://www.ademilaw.com/case/health-management.
We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights throughout the country. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Ademi & O'Reilly, LLP Guri Ademi 3620 East Layton Ave. Cudahy, WI 53110 Toll Free: (866) 264-3995 Fax: (414) 482-8001 www.ademilaw.comSource:Ademi & O'Reilly, LLP