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Levi & Korsinsky, LLP has commenced an investigation into the fairness of the merger between of BioScrip, Inc. (“BioScrip” or the “Company”) (NASDAQGS: BIOS), HC Group Holdings II, Inc. (“Omega”), and HC Group Holdings I, LLC (“Omega Parent”). When BioScrip merges with Omega, the surviving company will be a wholly owned subsidiary of BioScrip with Omega Parent owning 79.5% of the issued and outstanding shares. Pursuant to this merger, all of the shares of Omega’s common stock will be cancelled and converted into the right of Omega Parent to receive 542,261,567 shares of BioScrip’s common stock.
The BioScrip merger investigation concerns whether the Board of BioScrip breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether the merger with Omega undervalues BioScrip shares, thus unlawfully harming BioScrip shareholders.
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