Sun Healthcare Group Investor Alert: The Briscoe Law Firm And Powers Taylor, LLP Investigate Sun Healthcare Group, Inc. Sale To Genesis Healthcare For Shareholders
Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP are investigating the sale of Sun Healthcare Group, Inc. (“Sun Healthcare” or “SUNH”) (NASDAQ: SUNH) to Genesis Healthcare for shareholders. Under the proposed transaction, Sun Healthcare shareholders will receive only $8.50 in cash for each share of Sun Healthcare stock owned.
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 firstname.lastname@example.org, 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.
The definitive merger agreement involves a transaction with a total equity value of approximately $275 million net of cash and debt acquired.
The investigation centers on whether Sun Healthcare shareholders are receiving adequate compensation for their shares in the buyout, whether the transaction undervalues Sun Healthcare stock, and whether Sun Healthcare’s board attempted to obtain the highest share price for all shareholders prior to agreeing to the deal. Notably, the proposed merger price of $8.50 is well below the 52 week high of $8.77 per SUNH share. According to shareholder rights attorney Willie Briscoe, “Because of the lack of a significant premium to the shareholders, and other factors, we believe that the transaction may undervalue Sun Healthcare stock. Our lawsuit will seek to obtain the highest share price for all shareholders.”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.
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