San Diego, CA -- (SBWIRE) -- 06/25/2012 -- An investigation on behalf of investors in NASDAQ:SUNH shares was announced concerning whether the offer to acquire Sun Healthcare Group Inc at $8.50 per share and the takeover process are unfair to investors in NASDAQ:I Sun Healthcare Group shares.
Investors who purchased shares of Sun Healthcare Group Inc (NASDAQ:SUNH) prior to June 20, 2012, and currently hold any of those NASDAQ:SUNH shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Sun Healthcare Group Inc breached their fiduciary duties owed to NASDAQ:SUNH investors in connection with the proposed acquisition.
On June 20, 2012, Sun Healthcare Group, Inc. (NASDAQ: SUNH) announced that it has signed an agreement for the acquisition of Sun Healthcare Group by Genesis HealthCare.
Under the terms of the merger agreement, Genesis HealthCare will acquire Sun Healthcare Group, Inc for $8.50 per share of common NASDAQ: SUNH stock in cash, resulting in a transaction value of approximately $275 million net of cash and debt acquired.
Shares of Sun Healthcare Group Inc (NASDAQ:SUNH) jumped from $6.14 per share to $8.32 per share in after-hours.
However, NASDAE:SUNH shares traded in earl 2011 as high as $14 per share, leaving certain NASDAQ:SUNH investors with no premium, but asking them to hand over their shares at a discount.
Furthermore, at least one analyst has set the high target price for NASDAQ:SUNH shares at
Therefore the investigation for NASDAQ:SUNH investors concerns whether the proposed transaction is unfair to Sun Healthcare Group Inc stockholders. Specifically, the investigation focuses on whether the Sun Healthcare Group 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.
Those who are current investors in Sun Healthcare Group Inc (NASDAQ:SUNH) and purchased their Sun Healthcare Group Inc 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