Robbins Umeda LLP Announces an Investigation of the Acquisition of Odyssey HealthCare, Inc. by Gentiva Health Services, Inc.
24 Mayo 2010 - 6:30PM
Business Wire
Robbins Umeda LLP has commenced an investigation into possible
breaches of fiduciary duty and other violations of state law by
members of the Board of Directors of Odyssey HealthCare, Inc.
("Odyssey" or the "Company") (NASDAQ: ODSY) in connection with
their actions in causing Odyssey to enter into a definitive merger
agreement to be acquired by Gentiva Health Services, Inc.
("Gentiva") (NASDAQ: GTIV). If the transaction is completed,
Odyssey shareholders will receive $27.00 in cash for each share of
Odyssey common stock they hold. The companies expect the
transaction to close in the third quarter of 2010.
Robbins Umeda LLP's investigation concerns whether the Board of
Directors of Odyssey undertook a fair process to obtain fair
consideration for all shareholders of Odyssey. Of particular note
is that the Company announced its first quarter earnings less than
a month ago, on April 28, 2010. The Company stated that its diluted
earnings per share for the quarter were $0.40, easily beating
analyst estimates of $0.32 per share. As a result, many analysts
dramatically increased their stock price targets for the
Company.
If you are a shareholder of Odyssey and would like more
information about your rights as a shareholder, please contact
attorney Gregory E. Del Gaizo at 800-350-6003 or by e-mail at
inquiry@robbinsumeda.com.
Robbins Umeda LLP is a California-based law firm with
significant experience representing investors in merger-related
shareholder class actions, shareholder derivative actions, and
securities fraud class actions. For more information about the
firm, please go to http://www.robbinsumeda.com.
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