WILMINGTON, Del., Oct. 27, 2014 (GLOBE NEWSWIRE) -- Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, announced today that a class action lawsuit has been filed by another law firm on behalf of stockholders of Gentiva Health Services Inc. (Nasdaq:GTIV) ("Gentiva" or the "Company") seeking to challenge the Company's recently announced merger.
If you would like to join the class action, please visit our website or contact Craig J. Springer, Esq. at cspringer@andrewsspringer.com, or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
On October 9, 2014, the two companies announced the signing of a definitive merger agreement pursuant to which Kindred Healthcare Inc. ("Kindred") will acquire Gentiva in a merger in a deal worth $1.8 billion. As a result of the merger, Gentiva shareholders are only anticipated to receive $14.50 per share in cash and 0.257 shares of Kindred common stock (for total combined consideration of $19.50 per share). Analysts at Yahoo! Finance have set a $20.00 per share price target for Gentiva. Also, the 0.257 fixed exchange ratio restricts the value that Gentiva shareholders are expected to receive by exposing Gentiva shareholders to the volatility of Kindred's share price. Recently, Kindred has traded as high as $26.26 on June 6, 2014 and as low as $20.66 after the markets closed on October 23, 2014.
On October 21, 2014, a Gentiva shareholder represented by another law firm has filed a class action complaint challenging Gentiva's merger with Kindred. The complaint was filed in the Delaware Court of Chancery, Case No. 10261.
If you own shares of Gentiva and want to receive additional information and protect your investments free of charge, please visit us at http://www.andrewsspringer.com/cases-investigations/GTIV or contact Craig J. Springer, Esq. at cspringer@andrewsspringer.com, or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.
Andrews & Springer is a boutique securities class action law firm representing shareholders nationwide who are victims of securities fraud, breaches of fiduciary duty or corporate misconduct. Having formerly defended some of the largest financial institutions in the world, our founding members use their valuable knowledge, experience, and superior skill for the sole purpose of achieving positive results for investors. For more information please visit our website at www.andrewsspringer.com. This notice may constitute Attorney Advertising.