Bernstein Liebhard LLP Announces Investigation of Continucare Corporation
June 27, 2011
Bernstein Liebhard LLP is investigating whether the Board of Directors of Continucare Corporation (“Continucare” or the “Company”) (NYSE: CNU) breached its fiduciary duty to its shareholders in agreeing to sell Continucare to Metropolitan Health Networks, Inc. (“Metropolitan”).
Under the terms of the agreement, Continucare shareholders will receive $6.25 per share in cash, and 0.0414 of a share of Metropolitan common stock for each share they own. The investigation is focused on the potential unfairness of the price to Continucare shareholders and the process by which the Continucare Board of Directors considered and approved the transaction.
If you are interested in discussing your rights as a Continucare shareholder and/or have information relating to the matter, please contact U. Seth Ottensoser at (877) 779-1414 or Ottensoser@bernlieb.com.
Bernstein Liebhard has pursued hundreds of securities, consumer and shareholder rights cases and recovered almost $3 billion for its clients. It has been named to The National Law Journal’s “Plaintiffs’ Hot List” in each of the last eight years.