San Diego, CA -- (SBWIRE) -- 05/01/2012 -- An investor in NASDAQ:CHSI shares filed a lawsuit in State Court against directors of Catalyst Health Solutions, Inc. in effort to stop the proposed merger between Catalyst Health Solutions, Inc. and SXC Health Solutions Corp. at a value of $81.02 per NASDAQ:CHSI share.
Investors who purchased shares of Catalyst Health Solutions, Inc. (NASDAQ:CHSI) prior to April 18, 2012 and currently hold any of those NASDAQ:CHSI shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
According to the complaint the plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:CHSI stockholders arising out of the attempt to merge Catalyst Health Solutions, Inc. with SXC Health Solutions Corp at an unfair price via and unfair process.
On April 18, 2012, Catalyst Health Solutions, Inc. and SXC Health Solutions Corp. announced that their Boards of Directors have unanimously approved a definitive merger agreement under which SXC Health Solutions Corp and Catalyst Health Solutions will combine in a cash and stock transaction valued at approximately $4.4 billion. Under the terms of the agreement, Catalyst Health Solutions shareholders will receive $28.00 in cash and 0.6606 shares of SXC Health Solutions stock for each Catalyst Health Solutions share, which implies a purchase price of $81.02 per Catalyst share. Catalyst Health Solutions, Inc said that the offer represents a premium of approximately 28% based on the closing stock prices of SXC Health Solutions and Catalyst Health Solutions on April 17, 2012.
Those who are current investors in Catalyst Health Solutions, Inc. (NASDAQ:CHSI) and purchased their Catalyst Health Solutions, Inc. (NASDAQ:CHSI) shares prior to the announcement, have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego