athenahealth (ATHN) Alert: Johnson Fistel Investigates Proposed Sale of athenahealth, Inc.; Is $135 a Fair Price?
SAN DIEGO- PRNewswire —November 13, 2018
Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of athenahealth, Inc. (NASDAQ: ATHN) (“athenahealth”) breached their fiduciary duties in connection with the proposed sale of the Company to Veritas Capital (“Veritas”) and Evergreen Coast Capital (“Evergreen”).
On November 12, 2018, athenahealth announced that it had signed a definitive merger agreement with Veritas and Evergreen. Under the terms of the agreement, athenahealth shareholders will receive $135 in cash per share.
The investigation concerns whether the athenahealth board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for athenahealth shares of common stock. Nationally recognized Johnson Fistel is investigating whether the proposed deal represents adequate consideration, especially given that one Wall Street analyst has a $180.00 price target on the stock. The 52-week high for athenahealth was $163.94.
If you are a shareholder of athenahealth and believe the proposed buyout price is too low or you’re interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker ([email protected]) at 619-814-4471. If emailing, please include a phone number.
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About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit https://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.