Energy News / Shareholders Foundation, Inc.

NYSE:CIVI Investor Alert: Lawsuit Filed in Effort to Halt the Takeover of Civitas Solutions, Inc.

Via: ReleaseWire

Updated 12:00 PM CST, Tue, February 26,2019

A lawsuit was filed for investors in shares of Civitas Solutions, Inc. (NYSE: CIVI in connection with the proposed takeover and NYSE: CIVI stockholders should contact the Shareholders Foundation.

San Diego, CA -- (SBWIRE) -- 02/26/2019 -- An investor in shares of Civitas Solutions, Inc. (NYSE: CIVI), filed a lawsuit against the acquisition of Civitas Solutions, Inc.

Investors who purchased shares of Civitas Solutions, Inc. (NYSE: CIVI) and currently hold any of those NYSE: CIVI shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE: CIVI stockholders by agreeing to sell Civitas Solutions, Inc. cheaply via an unfair process.

Boston, MA based Civitas Solutions, Inc. provides home- and community-based health and human services to must-serve individuals with intellectual, developmental, behavioral, and/or medically complex challenges in the United States. On December 18, 2018, Civitas Solutions, Inc. (NYSE: CIVI) announced that it has entered into a merger agreement to be acquired by funds advised by Centerbridge Partners, L.P. ("Centerbridge"). Under the terms of the agreement, Centerbridge Partners, L.P. will acquire all outstanding shares of Civitas common stock for $17.75 in cash per share of Civitas common stock, resulting in an enterprise value of approximately $1.4 billion. The offer price represents a 27% premium to the 30-day volume-weighted average price as of December 18, 2018.

However, plaintiff claims that the proposed consideration NYSE: CIVI shareholders will receive is grossly inadequate and undervalues Civitas Solutions. Indeed, given that at least one analyst has set the high target price for NYSE: CIVI at $18 per share. In addition, the plaintiff alleges that the process is also unfair NYSE: CIVI stockholders

Shares of Civitas Solutions, Inc. (NYSE: CIVI) closed on January 9, 2019, at $17.57 per share.

Those who are current investors in Civitas Solutions, Inc. (NYSE: CIVI) shares have certain options and should contact the Shareholders Foundation.

Contact:
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
mail@shareholdersfoundation.com

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.

For more information on this press release visit:
http://www.sbwire.com/press-releases/nysecivi-investor-alert-lawsuit-filed-in-effort-to-halt-the-takeover-of-civitas-solutions-inc-1157970.htm

Media Relations Contact
Michael Daniels
858-779-1554
Email: Click to Email Michael Daniels
Web: http://www.ShareholdersFoundation.com