An investigation on behalf of investors of WellCare Health Plans, Inc. (NYSE: WCG) in connection with the proposed takeover was announced and NYSE: WCG stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 04/11/2019 -- An investigation on was announced concerning the takeover of WellCare Health Plans, Inc.
Investors who purchased shares of WellCare Health Plans, Inc. (NYSE: WCG) and currently hold any of those NYSE: WCG 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 directors of WellCare Health Plans, Inc. breached their fiduciary duties owed to NYSE: WCG investors in connection with the proposed acquisition.
Tampa, FL based WellCare Health Plans, Inc. provides government-sponsored managed care services. On March 27, 2019 /PRNewswire/ -- Centene Corporation (NYSE: CNC) and WellCare Health Plans, Inc. (NYSE: WCG) announced that Centene will acquire WellCare in a cash and stock transaction for $305.39 per share based on Centene's closing stock price on March 26, 2019 for a total enterprise value of $17.3 billion pursuant to the terms of a merger agreement.
However, given that at least one analyst has set the high target price for NYSE: WCG shares at $350.00 per share, the investigation concerns whether the offer is unfair to NYSE: WCG stockholders. More specifically, the investigation concerns whether the WellCare Health Plans 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.
WellCare Health Plans, Inc. reported that its annual total Revenue rose from over $17 billion in 2017 to over $19.98 billion in 2018 and that its Net Income increased from $373.70 million in 2017 to $439.80 million in 2018.
Shares of WellCare Health Plans, Inc. (NYSE: WCG) reached in October 2018 as high as $324.99 per share in the open market.
On April 10, 2019, NYSE: WCG shares closed at $284.12 per share.
Those who are current investors in WellCare Health Plans, Inc. (NYSE: WCG) 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
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.