NEW YORK, April 9, 2019 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of WellCare Health Plans, Inc. ("WCG" or the "Company") (NYSE: WCG) in connection with the proposed acquisition of the Company by Centene Corporation ("Centene") (NYSE: CNC). Under the terms of the acquisition agreement, WCG shareholders will receive 3.38 shares of Centene and $120 in cash in exchange for each WCG share they own, representing consideration of $296.16 based on Centene's closing price on the day of the acquisition announcement.
If you own WCG shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, please contact:
Joshua Rubin, Esq.
1500 Broadway, 16th Floor
New York, NY 10036
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WeissLaw is investigating whether WCG's Board acted to maximize shareholder value prior to entering into the agreement. Notably, at least one analyst set a target price of $350, or approximately $54.00 above the per share consideration. Additionally, the acquisition will diversify Centene's product portfolio and drive growth.
Given these facts, WeissLaw is concentrating its investigation on whether WCG's Board conducted a fair process in agreeing to the proposed acquisition, whether the proposed acquisition undervalues the Company, and whether all material information related to the proposed acquisition is fully and fairly disclosed.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at email@example.com
SOURCE WeissLaw LLP