WILMINGTON, Del., Oct. 29, 2014 (GLOBE NEWSWIRE) -- Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, is investigating potential breach of fiduciary duty claims against the Board of Directors of Gentiva Health Services Inc. ("Gentiva" or the "Company") relating to the sale of the Company to Kindred Healthcare Inc. ("Kindred"). On October 9, 2014, the two companies announced the signing of a definitive merger agreement pursuant to which 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).
Andrews & Springer's investigation focuses on the insufficient consideration that Gentiva shareholders are expected to receive. 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 $19.74 after the markets closed yesterday.
Given this information Andrews & Springer is investigating whether Gentiva directors are breaching their fiduciary duties by failing to adequately shop the company and maximize shareholder value.
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. These traits are the hallmarks of our innovative approach to each case our Firm decides to prosecute. For more information please visit our website at www.andrewsspringer.com. This notice may constitute Attorney Advertising.