NEW YORK, Jan. 18, 2017 /PRNewswire/ -- WeissLaw LLP is
investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of Surgical Care
Affiliates, Inc. (NASDAQ: SCAI) ("SCAI" or the "Company") in
connection with the proposed acquisition of the Company by
UnitedHealth Group Inc. ("UnitedHealth"). On January 9, 2017, UnitedHealth announced a
definitive agreement and plan of merger to combine the operations
of its subsidiary OptumCare with SCAI. Under the terms of the
agreement, the Company's shareholders will receive $57.00 in cash for each SCAI share they own.
WeissLaw is investigating whether SCAI's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, at least one analyst set a target price of $58.00, or $1.00
above the offer price. Additionally, SCAI recently announced
positive financial results, reporting total net revenue of
$322.8 million in the third quarter
of 2016, representing a growth of 25.2% year-over-year when
compared to the $257.8 million
reported in the same period of the previous year. Moreover,
since 2013 SCAI has increased its revenue an average of 7%.
Finally, UnitedHealth's acquisition of SCAI will boost revenue
growth and margins for OptumCare by expanding the unit's outpatient
capabilities and ensuring high quality outcomes.
Given these facts, WeissLaw is investigating whether SCAI's
Board acted in the best interests of SCAI's public shareholders to
maximize shareholder value prior to entering into the
agreement. If you own SCAI shares and would like more
information about your rights or our investigation, or if you have
information to share with us, please contact Joshua Rubin by telephone at
(888) 593-4771 or by email at
stockinfo@weisslawllp.com.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com or fill out the form
on our website,
http://www.weisslawllp.com/surgical-care-affiliates-inc/
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SOURCE WeissLaw LLP