NEW YORK, Jan. 18, 2017 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Surgical Care Affiliates, Inc. (NASDAQ: SCAI) ("SCAI" or the "Company") in connection with the proposed acquisition of the Company by UnitedHealth Group Inc. ("UnitedHealth"). On January 9, 2017, UnitedHealth announced a definitive agreement and plan of merger to combine the operations of its subsidiary OptumCare with SCAI. Under the terms of the agreement, the Company's shareholders will receive $57.00 in cash for each SCAI share they own.
WeissLaw is investigating whether SCAI's Board acted to maximize shareholder value prior to entering into the agreement. Notably, at least one analyst set a target price of $58.00, or $1.00 above the offer price. Additionally, SCAI recently announced positive financial results, reporting total net revenue of $322.8 million in the third quarter of 2016, representing a growth of 25.2% year-over-year when compared to the $257.8 million reported in the same period of the previous year. Moreover, since 2013 SCAI has increased its revenue an average of 7%. Finally, UnitedHealth's acquisition of SCAI will boost revenue growth and margins for OptumCare by expanding the unit's outpatient capabilities and ensuring high quality outcomes.
Given these facts, WeissLaw is investigating whether SCAI's Board acted in the best interests of SCAI's public shareholders to maximize shareholder value prior to entering into the agreement. If you own SCAI shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at firstname.lastname@example.org.
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 or fill out the form on our website, http://www.weisslawllp.com/surgical-care-affiliates-inc/
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SOURCE WeissLaw LLP