MONSEY, N.Y., Feb. 08, 2023 (GLOBE NEWSWIRE) -- The law firm of Wohl & Fruchter LLP is investigating whether the directors of Oak Street Health, Inc. (NYSE: OSH) (“Oak Street”) acted in the best interests of Oak Street shareholders in approving the sale of Oak Street to CVS Health Corporation (“CVS”) for $39.00 per share in cash.
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Why is there an investigation?
On February 8, 2023, Oak Street announced that it had agreed to be acquired by CVS for $39.00 per share in cash. The agreement has been approved by the Oak Street board of directors (“Board”).
“Our investigation concerns whether Oak Street’s Board acted in the best interests of Oak Street shareholders in approving the sale,” explained Joshua Fruchter, one of the firm’s name partners. “This includes whether the acquisition price adequately compensates Oak Street shareholders, and whether all material information regarding the transaction has been fully disclosed.”
Notably, according to an analysis of Wall Street price targets for Oak Street in the last 90 days published on Seeking Alpha, there is a high price target of $47.00 per share, which is above the deal price.
About Wohl & Fruchter
Wohl & Fruchter LLP, with offices in New York City and Monsey, has for over a decade been representing investors in litigation arising from fraud and other corporate misconduct, and recovered hundreds of millions of dollars in damages for investors. Please visit our website, www.wohlfruchter.com, to learn more about our Firm, or contact one of our partners.
Wohl & Fruchter LLP
Joshua E. Fruchter
Toll Free 866.833.6245