The Law Firm of Weiss & Lurie Announces Investigation of Continucare Corporation

Weiss & Lurie, a national class action and shareholder rights law firm with offices in New York City and Los Angeles, is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Continucare Corporation, Inc. (NYSE: CNU) arising from its proposed acquisition by Metropolitan Health Networks (NYSE AMEX: MDF) in a cash and stock transaction.

Under the terms of the transaction, Continucare shareholders will receive $6.25 per share in cash and 0.0414 of a share of Metropolitan Health common stock for each share of Continucare common stock. Continucare director Phillip Frost has agreed to vote his 42% holding in Continucare’s outstanding shares in favor of the transaction. The transaction is expected to close in the third quarter of 2011.

Weiss & Lurie is investigating whether Continucare’s Board acted in the best interests of shareholders in approving the transaction and whether the Board properly sought to maximize shareholder value. On May 5, 2011, Continucare beat analyst estimates of earnings per share of $0.11, reporting third quarter EPS of $0.12.

Additionally, Continucare has agreed not to solicit or initiate discussions with third parties regarding other proposals to acquire Continucare.

If you own Continucare shares and would like more information about your rights as a shareholder or additional information concerning our investigation, please contact Michael A. Rogovin either by email at info@weisslurie.com or by telephone at (888) 593-4771.

Weiss & Lurie has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded institutions and individuals and obtained important corporate governance in these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (such as insider trading, waste of corporate assets, accounting fraud, or issuing materially misleading press releases or SEC filings), consumer fraud (such as false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at info@weisslurie.com or fill out the form on our website, http://www.weisslurie.com/contact/report_fraud/.

Attorney Advertising. Past results do not guarantee a similar outcome.

Continuecare (NYSE:CNU)
過去株価チャート
から 12 2024 まで 1 2025