SAN DIEGO, Aug. 5, 2020 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Livongo Health, Inc. ("Livongo" or the "Company") (NASDAQ: LVGO) breached their fiduciary duties in connection with the proposed sale of the Company to Teladoc Health ("Teladoc").
On August 5, 2020, Livongo announced that it had entered into a definitive merger agreement with Teladoc. Under the terms of the agreement, each Livongo share will be exchanged for 0.5920x shares of Teladoc plus cash consideration of $11.33, amounting to $158.98, based on Teladoc's closing price on August 4, 2020. However, shareholders will be subject to the future price fluctuation of Teladoc's stock price.
The investigation concerns whether the Livongo board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for Livongo shares of common stock.
If you are a shareholder of Livongo and believe the proposed buyout price is too low or you're interested in learning more about the investigation, please contact lead analyst Jim Baker (email@example.com) at 619-814-4471. If emailing, please include a phone number.
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About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit https://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
SOURCE Johnson Fistel, LLP