MAGELLAN HEALTH ALERT: Bragar Eagel & Squire, P.C. Investigates Sale of MGLN and Encourages Investors to Contact the Firm
January 04, 2021 at 14:09 PM EST
NEW YORK, Jan. 04, 2021 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, has launched an investigation into whether the board members of Magellan Health, Inc. (NASDAQ: MGLN) breached their fiduciary duties or violated the federal securities laws in connection with the company’s acquisition by Centene Corporation (NYSE: CNC).
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On January 4, 2020, Magellan Health announced that it had signed an agreement to be acquired by Centene for approximately $2.2 billion. Pursuant to the merger agreement, Magellan Health stockholders will receive $95 in cash for each share of Magellan Health common stock owned. The deal is scheduled to close in the second half of 2021.
Bragar Eagel & Squire is concerned that Magellan Health’s board of directors oversaw an unfair process and ultimately agreed to an inadequate merger agreement. Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for Magellan Health’s stockholders.
If you own shares of Magellan Health and are concerned about the proposed merger, or you are interested in learning more about the investigation or your legal rights and remedies, please contact Melissa Fortunato or Alexandra Raymond by email at email@example.com or telephone at (646) 860-9157, or by filling out this contact form. There is no cost or obligation to you.
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