Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Coventry Health Care, Inc. (“Coventry” or the “Company”) (NYSE: CVH) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Aetna Inc. (“Aetna”) (NYSE: AET) in a cash-and-stock deal valued at approximately $7.3 billion. Under the terms of the proposed transaction, Coventry stockholders will receive $27.30 in cash and 0.3885 Aetna common shares for each Coventry share they own. The agreement values the proposed consideration at approximately $42.08 per share, based on the closing price of Aetna common shares on Friday, August 17, 2012. Request more information now by clicking here: www.faruqilaw.com/CVH.There is no cost or obligation to you. Whether Coventry’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether the proposed transaction undervalues Coventry’s shares and by how much this proposed transaction undervalues the Company to the detriment of Coventry’s shareholders are the key focus of this investigation. Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm’s clients. If you own common stock in Coventry and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/CVH or contact Juan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330. Attorney Advertising. (C) 2012 Faruqi & Faruqi, LLP. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP ( www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We are happy to discuss your particular case.
Coventry Health Care (NYSE:CVH) hit a new 52-week high Monday as it is currently trading at $50.34, above its previous 52-week high of $50.24 with 62,304 shares traded as of 10:06 a.m. ET. Average volume has been one million shares over the past 30 days.
Coventry Health Care (NYSE:CVH) hit a new 52-week high Thursday as it is currently trading at $49.42, above its previous 52-week high of $49.40 with 7,164 shares traded as of 9:31 a.m. ET. Average volume has been 1.1 million shares over the past 30 days.