NEW YORK, March 27, 2019 (GLOBE NEWSWIRE) -- The following statement is being issued by Levi & Korsinsky, LLP:
To: All Persons or Entities who purchased WellCare Health Plans, Inc. (“WellCare” or the “Company”) (NYSE: WCG) stock prior to March 27, 2019.
You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of WellCare to Centene Corporation (NYSE: CNC). Under the terms of the transaction, WellCare shareholders will receive 3.38 shares of Centene common stock and $120 in cash for each share of WellCare common stock they own; based on the closing price of Centene stock on March 26, 2019, this represents a value of $305.39 per share. To learn more about the action and your rights, go to:
The WellCare merger investigation concerns whether the Board of WellCare breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Centene Corporation is underpaying for WellCare shares, thus unlawfully harming WellCare shareholders.
Levi & Korsinsky is a national firm with offices in New York, Connecticut, California, and Washington D.C. The firm's attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities lawsuits and have recovered hundreds of millions of dollars for aggrieved shareholders. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171