The Law Offices of Nicholas Koluncich III, LLC is investigating the possibility of filing a claim or claims against the board of directors of Sun Healthcare Group Inc. ("Sun") ( SUNH) for the facts and circumstances surrounding the proposed acquisition of Sun by Genesis Healthcare ("Genesis"). On June 20, 2012, Sun filed an 8-K with the Securities and Exchange Commission informing that Sun had entered into a definitive agreement to sell itself to Genesis for $8.50 in cash per share, resulting in a transaction value of approximately $275 million net of cash and debt acquired. Current Sun Shareholders would retain no interest in Sun pursuant to the terms of this deal. That 8-K can be found here: http://www.sec.gov/Archives/edgar/data/904978/000119312512277217/d370363d8k.htm Shareholders and/or former employees are encouraged to contact us at the contact information below. Here, our investigation focuses on whether or not the members of Sun’s Board of Directors have or will continue to comply with their fiduciary and legal duties to sell the company pursuant to a fair sales process that will maximize shareholder value and in a manner that affirmatively discloses all material facts concerning the timing and terms of this going private transaction. If you own Sun stock, have information about this company or would like a candid explanation of your rights, please contact:
Sun Healthcare Group (Nasdaq:SUNH) hit a new 52-week low Monday as it is currently trading at $2.65, below its previous 52-week low of $2.67 with 9,047 shares traded as of 9:31 a.m. ET. Average volume has been 1.3 million shares over the past 30 days.