This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Block & Leviton LLP Investigates Catalyst Health Solutions, Inc.'s Board Of Directors For Possible Breaches Of Their Fiduciary Duties

Stocks in this article: CHSISXCI

BOSTON, April 18, 2012 /PRNewswire/ -- Block & Leviton LLP ( blockesq.com), a Boston-based law firm representing investors nationwide, is investigating possible breaches of fiduciary duties by the Board of Directors of Catalyst Health Solutions, Inc. ("Catalyst" or the "Company") (Nasdaq: CHSI) with regard to a proposed sale of the Company. 

Before trading opened on April 18, 2012, Catalyst announced that it had entered into an Agreement and Plan of Merger with SXC Health Solutions Corp. ("SXC") (Nasdaq: SXCI), pursuant to which SXC will acquire Catalyst for a per share price of $28 in cash plus .6606 of a share of SXC.  In a press release issued this morning, SXC touted the purchase price as totaling $81.02 per share, which would represent a premium of 28% over Catalyst's closing price yesterday.  However, SXC has seen its stock price climb steeply over the last six months from a low of approximately $40 per share as recently as October 2011.  Using SXC's average price over the previous year ($58.86) instead of SXC's closing price yesterday ($80.27), the offer price would be $66.88 per share, which would represent a premium of only 5% over Catalyst's closing price yesterday.   

Block & Leviton's investigation seeks to determine, among other things, whether Catalyst's Board of Directors has breached their fiduciary duties by failing to maximize shareholder value in the proposed transaction.  If you have any information relevant to this investigation, or if you have questions about your legal rights, please contact Block & Leviton LLP.

Block & Leviton is a Boston-based law firm representing investors for violations of the securities laws.  The firm's lawyers have collectively been prosecuting securities cases on behalf of investors for over 50 years.

This notice may constitute attorney advertising.  

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,399.67 +19.26 0.12%
S&P 500 1,904.01 +17.25 0.91%
NASDAQ 4,316.0740 +57.6360 1.35%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs