WILMINGTON, Del.--(BUSINESS WIRE)--Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, is investigating potential breach of fiduciary duty claims against the Board of Directors of Inovalon Holdings, Inc. (NASDAQGS: INOV) (“Inovalon” or the “Company”) relating to the sale of the Company to a consortium of investors composed of, among others, Nordic Capital and Inovalon’s CEO and founder Keith Dunleavy, M.D. (the “Investor Consortium”), who currently owns and controls over 63% of Inovalon’s outstanding stock. On August 19, 2021, the two parties announced that they reached an agreement in principle pursuant to which Mr. Dunleavy and the Investor Consortium will acquire Inovalon in a going private merger. As a result of the merger, Inovalon shareholders are only anticipated to receive $41.00 per share in cash in exchange for each share of Inovalon.
Our Firm's investigation so far has discovered that the merger appears to have significant conflicts of interest, thus making the process and consideration unfair. For example, while the Company claims that shareholders will receive a premium for their shares, Dunleavy and certain members of the Investor Consortium are rolling roughly $1.3 billion worth of Inovalon stock into the newly combined company while Inovalon’s minority stockholders are receiving only $41.00 per share in cash for their shares.
If you currently own shares of Inovalon and want to receive additional information and protect your investments free of charge, please visit us at http://www.andrewsspringer.com/cases-investigations/inovalon-merger-class-action-investigation/ or contact Craig J. Springer, Esq. at email@example.com, or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.
Andrews & Springer is a boutique securities class action law firm representing shareholders nationwide who are victims of securities fraud, breaches of fiduciary duty or corporate misconduct. Having formerly defended some of the largest financial institutions in the world, our founding members use their valuable knowledge, experience, and superior skill for the sole purpose of achieving positive results for investors. These traits are the hallmarks of our innovative approach to each case our Firm decides to prosecute. For more information please visit our website at www.andrewsspringer.com. This notice may constitute Attorney Advertising.