The law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of Catalyst Health Solutions, Inc. (NASDAQ: CHSI) (“Catalyst”) and other violations of state law by the board of directors of Catalyst relating to the proposed acquisition of the company by SXC Health Solutions Corp. (“SXC”). The firm’s investigation seeks to determine, among other things, whether the board breached its fiduciary duties by failing to maximize shareholder value. On April 18, 2012, Catalyst and SXC announced that they had entered into a definitive merger agreement providing for SXC to acquire Catalyst in a cash and stock transaction valued at approximately $4.4 billion. Under the terms of the merger agreement, Catalyst shareholders will receive $28.00 in cash and 0.6606 shares of SXC stock for each Catalyst share, which implies a purchase price of $81.02 per Catalyst share. If you currently own shares of Catalyst and would like to learn more about the investigation being conducted by Brower Piven, you may email or call Brower Piven, who will, without obligation or cost to you, attempt to answer your questions. You may contact Brower Piven by email at email@example.com, by calling (410) 415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and other class action cases of over 60 years.
Catalyst Health Solutions (Nasdaq:CHSI) hit a new 52-week high Monday as it is currently trading at $96.59, above its previous 52-week high of $96.41 with 178,069 shares traded as of 10:55 a.m. ET. Average volume has been 862,700 shares over the past 30 days.
Catalyst Health Solutions (Nasdaq:CHSI) hit a new 52-week high Monday as it is currently trading at $92.63, above its previous 52-week high of $92.62 with 358,408 shares traded as of 1:30 p.m. ET. Average volume has been 833,500 shares over the past 30 days.