The Law Firm of Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of Sun Healthcare Group, Inc. in Connection with the Sale of the Company to Genesis HealthCare
NEW YORK, June 22, 2012 /PRNewswire/ — Levi & Korsinsky is investigating the Board of Directors of Sun Healthcare Group, Inc. (“Sun” or the “Company”) (Nasdaq: SUNH) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Genesis Healthcare.
Click here to learn how to join the action: http://zlk.9nl.com/sun-healthcare-group-sunh/, or call: 877-363-5972. There is no cost or obligation to you.
Under the terms of the transaction, Sun shareholders will receive $8.50 per share of Sun stock they own. The transaction has an approximate total value of $275 million, including the assumption of debt. The investigation concerns whether the Sun Board of Directors breached their fiduciary duties to Sun stockholders by failing to adequately shop the Company before entering into this transaction and whether Genesis Healthcare is underpaying for Sun shares, thus unlawfully harming Sun stockholders. In particular, Sun reported a Book Value of $9.00 per share for the most recent quarter.
If you own common stock in Sun and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or http://zlk.9nl.com/sun-healthcare-group-sunh/.
Levi & Korsinsky is a national firm with offices in New York and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major securities lawsuits and have successfully recovered multimillion-dollar damages awards on behalf of investors. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street – 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
SOURCE Levi & Korsinsky, LLP