NEW ORLEANS, Oct. 25, 2006 (PRIMEZONE) -- Kahn Gauthier Swick, LLC announces that it has commenced an investigation following news that the Board of Directors of Universal American Financial Corp. (Nasdaq:UHCO) has received a buyout offer from a group of private equity investors, led by Richard A. Barasch, Universal American's Chairman and Chief Executive Officer, and including Capital Z Partners, Ltd., Lee Equity Partners, LLC, Perry Capital, LLC and Welsh, Carson, Anderson & Stowe X, L.P. to acquire all of Universal American's publicly held common stock for $18.15 per share in cash.
According to a statement by the Company, this management led group has offered to pay $18.15 to acquire the 52% of the public shares of Universal American that they do not currently own.
KGS' initial investigation is focused upon whether the management led group, which includes interests that control as many as 6 of the Company's Board seats, is relying upon confidential marketing and sales data, acquired through their positions of trust and fidelity to the Company's shareholders. KGS is also looking into the timing of this offer, which appears to track the sudden rise in Company sales and earnings.
Investors are encouraged to assist in the KGS investigation. Fund managers, institutional and large private investors with knowledge regarding the background of this management led buyout offer, or those with knowledge of any facts that indicate their actions are unfair or improper, are encouraged to contact KGS, as soon as possible, without obligation or cost to you.
CALL Lewis Kahn, President, KGS: Investigations Division toll free 1-866-467-1400, ext. 100, via cell phone at 504-301-7900, or by email at lewis.kahn@kglg.com.