Faruqi & Faruqi, LLP Announces Investigation of Catalyst Health Solutions, Inc. (CHSI)
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Catalyst Health Solutions, Inc. (“Catalyst” or the “Company”) (NASDAQ: CHSI) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to SXC Health Solutions Corp. (“SXC”) (NASDAQ: SXCI, TSX: SXC) in a cash-and-stock transaction valued at approximately $4.4 billion. Under the terms of the merger agreement, Catalyst shareholders will receive $28.00 in cash and 0.6606 shares of SXC stock for each Catalyst share, which implies a purchase price of $81.02 per each share of Catalyst common stock based on the closing stock prices of SXC and Catalyst on April 17, 2012.
Whether Catalyst’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether the proposed transaction undervalues Catalyst’s shares and by how much this proposed transaction undervalues the Company to the detriment of Catalyst’s shareholders are the key focus of this investigation.
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Faruqi & Faruqi, LLP
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