An investigation on behalf of investors of Cotiviti Holdings, Inc. (NYSE: COTV) in connection with the proposed takeover was announced and NYSE: COTV stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 06/25/2018 -- An investigation was announced over the acquisition of Cotiviti Holdings, Inc.
Investors who purchased shares of Cotiviti Holdings, Inc. (NYSE: COTV) and currently hold any of those NYSE: COTV shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Cotiviti Holdings, Inc. breached their fiduciary duties owed to NYSE: COTV investors in connection with the proposed acquisition.
On June 19, 2018, Cotiviti Holdings, Inc. (NYSE: COTV) and Verscend Technologies, Inc., a portfolio company of Veritas Capital and a leader in data-driven healthcare solutions, announced that they have entered into an agreement whereby Verscend has agreed to acquire Cotiviti for $4.9 billion in cash. Under the terms of the agreement, Cotiviti Holdings, Inc. (NYSE: COTV) shareholders will receive $44.75 in cash per share of Cotiviti common stock, and Verscend will assume all of Cotiviti's outstanding debt, resulting in an enterprise value of approximately $4.9 billion.
However, given that at least one analyst has set the high target price for NYSE: COTV shares at $45.00 per share, the investigation concerns whether the offer is unfair to Cotiviti Holdings, Inc. (NYSE: COTV stockholders. More specifically, the investigation concerns whether the Cotiviti Holdings, Inc. (NYSE: COTV Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
Shares of Cotiviti Holdings, Inc. (NYSE: COTV) closed on June 22, 2018 at $44.19 per share.
Those who are current investors in Cotiviti Holdings, Inc. (NYSE: COTV) shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com