An investigation on behalf of investors of athenahealth, Inc. (NASDAQ: ATHN) in connection with the proposed takeover was announced and NASDAQ: ATHN stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 11/27/2018 -- The takeover of athenahealth, Inc. is under investigation concerning potential wrgondoing.
Investors who purchased shares of athenahealth, Inc. (NASDAQ: ATHN) and currently hold any of those NASDAQ: ATHN shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of athenahealth, Inc. breached their fiduciary duties owed to NASDAQ: ATHN investors in connection with the proposed acquisition.
On November 12, 2018, athenahealth, Inc. (NASDAQ: ATHN), Veritas Capital and Evergreen Coast Capital announced that they have entered into an agreement under which an affiliate of Veritas Capital and Evergreen Coast Capital will acquire athenahealth for approximately $5.7 billion in cash. Under the terms of the agreement, athenahealth shareholders will receive $135 in cash per share.
However, given that at least one analyst has set the high target price for NASDAQ: ATHN shares at $179 per share and given that NASDAQ: ATHN shares traded in the open market as recently as July 2018 as high as $162.54 per share, the investigation concerns whether the offer is unfair to athenahealth, Inc. (NASDAQ: ATHN stockholders. More specifically, the investigation concerns whether the athenahealth, Inc. (NASDAQ: ATHN 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.
athenahealth, Inc. reported that its annual Total Revenue rose from over $1.08 billion in 2016 to over $1.22 billion in 2017 and that its Net Income increased from $21 million in 2016 to $53.1 million in 2017.
On November 26, 2018, NASDAQ: ATHN shares closed at $132.70 per share.
Those who are current investors in athenahealth, Inc. (NASDAQ: ATHN) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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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.
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