NEW YORK, May 21, 2015 /PRNewswire/ -- Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Omnicare, Inc. ("Omnicare" or the "Company") (NYSE: OCR) for potential breaches of fiduciary duties in connection with the sale of the Company to CVS Health Corporation for approximately $12.7 billion. The Company's stockholders will only receive $98 per share in cash for each share of Omnicare common stock they own. However, at least one analyst has set a price target of $104.00 for Omnicare shares, significantly higher than the offer price.
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The investigation focuses on whether Omnicare's Board of Directors breached their fiduciary duties to the Company's stockholders by failing to conduct a fair sales process and whether and by how much this proposed transaction undervalues the Company to the detriment of Omnicare's shareholders.
Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients. To keep track of the latest securities litigation news, follow us on Twitter at www.twitter.com/MergerActivity or on Facebook at www.facebook.com/FaruqiLaw.
If you own common stock in Omnicare and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/OCR or contact Juan E. Monteverde, Esq. either via e-mail at jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or (212) 983-9330.
Contact:
Faruqi & Faruqi, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Juan E. Monteverde, Esq.
jmonteverde@faruqilaw.com
Toll Free: (877) 247-4292
Phone: (212) 983-9330
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