Published: August 05, 2011
The Law Firm of Weiss & Lurie Announces Class Action Lawsuit Against Emdeon Inc., Its Board and Blackstone Capital Partners VI L.P.
NEW YORK - (BUSINESS WIRE) - Weiss & Lurie, a national class action and shareholder rights law firm
with offices in New York City and Los Angeles, has filed a class action
lawsuit on behalf of all shareholders of Emdeon Inc. (NYSE:EM). The
complaint alleges, among other things, that Emdeon's Board of Directors
failed to act in the best interest of shareholders and breached its
fiduciary duties by approving Blackstone Capital Partners VI L.P.'s
attempt to acquire a controlling interest in Emdeon for $19.00 per
Emdeon share, which will result in Emdeon becoming a private company.
The transaction is expected to close in second half of 2011, subject to
customary closing conditions, including shareholder and regulatory
approvals.
General Atlantic and Hellman & Friedman have agreed to vote shares owned
by them representing, in the aggregate, approximately 70% of the
Company's outstanding shares, in favor of the transaction. However,
Hellman & Friedman will maintain a significant minority equity interest
in Emdeon after the transaction is complete. Furthermore, prior to the
deal's announcement, several analysts had set the price target for
Emdeon stock at or above $20 per share, with a high target of $21.00 per
share.
If you own Emdeon shares and would like more information about your
rights as a shareholder or additional information concerning the
lawsuit, please contact Richard Acocelli or Michael Rogovin either by
email at info@weisslurie.com or
by telephone at (888) 593-4771.
Weiss & Lurie has litigated hundreds of stockholder class and derivative
actions for violations of corporate and fiduciary duties. We have
recovered over a billion dollars for defrauded institutions and
individuals and obtained important corporate governance in these cases.
If you have information or would like legal advice concerning possible
corporate wrongdoing (including insider trading, waste of corporate
assets, accounting fraud, or issuing materially misleading information),
consumer fraud (including false advertising, defective products, or
other deceptive business practices), or anti-trust violations, please
email us at info@weisslurie.com
or fill out the form on our website, http://www.weisslurie.com/contact/report_fraud/.
Attorney Advertising. Past results do not guarantee a similar outcome.
Weiss & Lurie
Richard A. Acocelli, Esq.
Michael A.
Rogovin, Esq.
1500 Broadway, 16th Floor
New York,
NY 10036
T: 212.682.3025
F: 212.682.3010
www.weisslurie.com
info@weisslurie.com
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