SHAREHOLDER ALERT: Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of AMERIGROUP Corporation in Connection with the Sale of the Company to WellPoint Inc.

Jul 11, 2012, 13:10 ET from Levi & Korsinsky, LLP

NEW YORK, July 11, 2012 /PRNewswire/ -- Levi & Korsinsky is investigating the Board of Directors of AMERIGROUP Corporation ("Amerigroup" or the "Company") (NYSE: AGP) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to WellPoint Inc. (NYSE: WLP).

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Under the terms of the transaction, Amerigroup shareholders will receive $92.00 per share of Amerigroup stock they own. The transaction has a total approximate value of $4.9 billion. The investigation concerns whether the Company's Board breached its fiduciary duties by failing to adequately shop the Company before entering into this transaction, whether WellPoint is underpaying for Amerigroup shares, thus unlawfully harming Amerigroup stockholders. In particular, at least one analyst set a price target for Amerigroup stock at $95.00 per share.

If you own common stock in Amerigroup and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or

Levi & Korsinsky is a national firm with offices in New York and Washington D.C.  The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits.  For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.

Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004           
Tel: (212) 363-7500
Toll Free:  (877) 363-5972
Fax: (212) 363-7171

SOURCE Levi & Korsinsky, LLP