BALA CYNWYD, Pa.--(BUSINESS WIRE)--Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Covance, Inc. (“Covance” or the “Company”) (NYSE:CVD) relating to the proposed acquisition by Laboratory Corporation of America Holdings. (“LabCorp”).
Click here to learn more about the investigation http://brodsky-smith.com/846-cvd-covance-inc.html, or call: 877-534-2590. There is no cost or obligation to you.
Under the terms of the transaction, Covance shareholders will receive only 0.2686 shares of Labcorp stock and $75.76 in cash for each share of Covance stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Covance for not acting in the Company’s shareholders' best interests in connection with the sale process. The transaction may undervalue the company given that Covance is in a high growth field and is a top five provider of phase I to IV clinical management services. This includes biomarker development and has resulted in annual revenues over $2.5 billion. In addition, the transaction would result in minimal gain or a loss for many Covance shareholders as the Company’s stock traded at $106.04 on April 2, 2014.
If you own shares of Covance common stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at email@example.com, by visiting http://brodsky-smith.com/846-cvd-covance-inc.html, or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and case action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.