Humana Inc. Lawsuit Details – Proposed Acquisition by Aetna Inc.
Gilman Law LLP announced that a complaint on was filed on July 22, 2015 on behalf of shareholders of Humana Inc. (NASDAQ: HUM) to stop the proposed $37 billion acquisition of Humana by Aetna Inc. stating the proposed deal undervalues Humana and underestimates the antitrust issues to come. Plaintiff claims Humana and its board of directors breached their fiduciary duty to shareholders by agreeing to be purchased by Aetna for 0.8375 shares of common stock of Aetna and $125 in cash without interest for each Humana share. Based on this, the plaintiff believes Human shareholders will not receive the full benefits of their investment if this acquisition goes through. The complaint also states that Humana locked the deal with “no solicitation” provisions as well as a merger agreement that grants Aetna access to any rival bidder’s information and allows Aetna to top any superior offer by just matching it. These provisions could deter other entities from making a better bid for Humana.
We are encouraging shareholders who invested in Humana Inc. and currently hold any of those shares to contact our office for a free consultation by submitting our free consultation form online or calling our office toll free at (888)-252-0048.
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About the Shareholder Rights Law Firm of Gilman Law LLP
The attorneys at Gilman Law have over 35 years of experience in securities class action law suits and have been involved in all major aspects of securities litigation. Our experienced securities attorneys focus on cases involving stock manipulation, securities fraud, investment fraud, shareholder rights violations, and securities arbitration.