Energy News / Shareholders Foundation, Inc.

NASDAQ:BIOS Shareholder Notice: Lawsuit Filed in Connection with the Proposed Merger with Option Care by BioScrip Inc

Via: ReleaseWire

Updated 11:30 AM CDT, Wed, June 19,2019

A lawsuit was filed by an investor in BioScrip Inc (NASDAQ:BIOS) shares over the proposed merger with Option Care and NASDAQ:BIOS stockholders should contact the Shareholders Foundation.

San Diego, CA -- (SBWIRE) -- 06/19/2019 -- An investor in shares of BioScrip Inc (NASDAQ:BIOS) filed a lawsuit against Bioscrip Inc in effort to gain more information about the proposed merger with Option Care..

Investors who purchased shares of BioScrip Inc (NASDAQ:BIOS) and currently hold any of those NASDAQ:BIOS shares have certain options and should contact the Shareholders Foundation at or call +1(858) 779 - 1554.

On March 14, 2019 BioScrip, Inc entered into a merger agreement with the shareholder of Option Care Enterprises, Inc. ("Option Care"). Under the terms of the merger agreement, BioScrip, Inc will issue new shares of its common stock to the Option Care's shareholder in a non-taxable exchange, which will result in BioScrip shareholders holding approximately 20% of the combined company.

The plaintiff alleges that the CEO and other directors left key details, including whether a financial adviser had potential conflicts of interest, off of a proxy statement. The plaintiff says that investors do not have enough information about the financial adviser's potential conflicts of interest with entities associated with the proposed transaction and that some information about fees that could be paid to the financial adviser has also not been provided.

The financial adviser is set to receive an advisory services fee of about $7.76 million, of which $5.76 million "is contingent upon the consummation of the proposed transaction". In addition, so the plaintiff, the financial adviser may "receive a discretionary fee" , however the plaintiff claims that the amount is not defined nor are the circumstances under which the fee would be awarded.

The plaintiff says that without all material information investors are left guessing as to whether the financial adviser's conflicts of interest tainted the process, and will be unable to cast informed votes on the proposals and fully exercise their franchise rights in connection with the proposed transaction.

Those who purchased shares of BioScrip Inc (NASDAQ:BIOS), have certain options and should contact the Shareholders Foundation.

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

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 conftact 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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