WeissLaw is investigating whether Envision Healthcare's board breached its fiduciary duty by failing to maximize shareholder value before entering into an agreement with KKR to acquire the company.
Here's what you should know:
1. WeissLaw, which is following standard practice after a large acquisition is announced, is attempting to file a class action suit against Envision on behalf of its stockholders.
2. The legal firm has a two-pronged argument:
An analyst set a target acquisition price of $51 per share
Envision traded at $57.40 in August 2017
3. Despite the contrarian analyst, the majority of market analysts predicted a deal in the high $40 per share range. KKR is acquiring Envision for $46 per share.
4. Envision's board also said on record they'd accept a bid in the high $40 per share range.