NEW YORK, July 16, 2010 (GLOBE NEWSWIRE) -- Levi & Korsinsky is investigating the Board of Directors of Care Investment Trust Inc. ("Care" or the "Company") (NYSE:CRE) for possible breaches of fiduciary duty and other violations of state law in connection with the proposed tender offer transaction with Tiptree Financial Partners, L.P. Under the terms of the transaction, Care shareholders will receive $9.00 in cash per share, and upon consummation of the proposed transaction, Tiptree will own a majority of the Company, and thus effectively obtain control of Care.
The investigation concerns whether the Care Board of Directors breached their fiduciary duties by failing to adequately shop the Company before entering into this transaction and whether Tiptree is underpaying for Care shares, thus unlawfully harming Care shareholders. Moreover, certain of the Company's directors and executive officers have interests in the proposed transaction that are different from the interests of Care shareholders which may have influenced their judgment in agreeing to enter into this transaction.
If you own common stock in Care and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500 or visit http://www.zlk.com/care-investment-trust-cre.html.
Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation.
For More Information visit: http://www.zlk.com/care-investment-trust-cre.html