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If you purchased shares of Universal American Corporation (NYSE:UAM) and currently hold any of those NYSE:UAM shares, you have certain options and you should contact the Shareholders Foundation, Inc.
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To have your information reviewed for options and to receive notifications about this investigation, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Investigation Overview
December 1, 2016 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of Universal American Corporation (NYSE:UAM), was announced concerning whether the takeover of Universal American by WellCare Health Plans, Inc for $10.00 per share is unfair to NYSE:UAM stockholders.
The investigation by a law firm concerns whether certain officers and directors of Universal American Corporation breached their fiduciary duties owed to NYSE:UAM investors in connection with the proposed acquisition.
On Nov. 17, 2016, WellCare Health Plans, Inc. (NYSE: WCG) and Universal American Corporation (NYSE:UAM) announced that they have entered into an agreement under which WellCare will acquire Universal American Corporation (NYSE:UAM) in an all cash transaction valued at $10.00 per share of common stock.
However, the investigation concerns whether the offer is unfair to NYSE:UAM stockholders. More specifically, the investigation concerns whether the Universal American Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
On December 1, 2016, Universal American Corporation (NYSE:UAM) shares closed at $10.00 per share.
