Law Offices of Todd M. Garber Announces Investigation of Sun Healthcare Group, Inc.
June 26 2012 - 2:54PM
Business Wire
The Law Offices of Todd M. Garber announces that it is
investigating potential claims against the Board of Directors of
Sun Healthcare Group, Inc. (“Sun” or the “Company”) (NASDAQ: SUNH)
related to the proposed acquisition of the Company by Genesis
HealthCare LLC. The transaction is valued at approximately $275
million.
This investigation concerns whether the Board of Directors of
Sun breached their fiduciary duties to stockholders by failing to
adequately shop the Company before agreeing to enter into the
proposed transaction, and whether the Company has disclosed all
material information to shareholders about the transaction. The
Company has seen substantial recent growth. Its share price has
skyrocketed from $2.15 on October 4, 2011 to $7.25 on April 27,
2012. Further, Sun would be required to pay Genesis a fee equal to
$6.9 million plus up to $1 million for expenses should Sun decide
to terminate the agreement.
If you are a shareholder of Sun, if you have information or
would like to learn more about our investigation, or if you wish to
discuss these matters or have any questions concerning this
announcement or your rights or interests with respect to these
matters, please contact Todd M. Garber, Esquire, of the Law Offices
of Todd M. Garber, by telephone at 213-700-7262 or by email to
info@toddgarberlaw.com.
This press release may be considered Attorney
Advertising in some jurisdictions under the applicable law and
ethical rules.
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