Law Office of Brodsky & Smith, LLC Announces Investigation of Sun Healthcare Group, Inc.
Published on Monday, 25 June 2012 21:08 Written by TradersHuddle Staff
BALA CYNWYD, Pa., June 25, 2012 /PRNewswire/ -- Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Sun Healthcare Group, Inc ("Sun Healthcare" or the "Company") (Nasdaq: SUNH) relating to the proposed acquisition by Genesis HealthCare, LLC ("Genesis").
Under the terms of the transaction, Sun Healthcare shareholders will receive $8.50 in cash for each share of Sun Healthcare stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Sun Healthcare for not acting in the Company's shareholders' best interests in connection with the sale process to Genesis. The transaction may result in long term holders of Sun Healthcare stock suffering substantial losses as Sun Healthcare stock traded at $14.88 a share as recently as February 8, 2011.
SOURCE Law office of Brodsky & Smith, LLC
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