Ademi LLP is investigating LHC Group (NASDAQ:LHGC) for possible breaches of fiduciary duty and other violations of law in its transaction with UnitedHealth Group’s Optum.
Ademi LLP alleges LHC Group’s financial outlook and prospects are excellent and yet LHC Group shareholders will receive only $170 per share. The transaction agreement unreasonably limits competing bids for LHC Group by prohibiting solicitation of further bids, and imposing a significant penalty if LHC Group accepts a superior bid. LHC Group insiders will receive substantial benefits as part of change of control arrangements.
We are investigating the conduct of LHC Group’s board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for LHC Group.