SAN DIEGO, Dec. 18, 2018 /PRNewswire/ -- Shareholder rights
law firm Johnson Fistel, LLP has launched an investigation into
whether the board members of Civitas Solutions, Inc. (NYSE:
CIVI) ("Civitas") breached their fiduciary duties in connection
with the proposed sale of the Company to Centerbridge Partners,
L.P. ("Centerbridge").
On December 18, 2018, Civitas
announced that it had signed a definitive merger agreement with
Centerbridge. Under the terms of the merger agreement, Centerbridge
will acquire all outstanding shares of Civitas common stock for
$17.75 in cash per share of Civitas
common stock.
The investigation concerns whether the Civitas 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 Civitas
shares of common stock. Nationally recognized Johnson Fistel is investigating whether the
proposed deal represents adequate consideration, especially given
that one Wall Street analyst has a $20.00 price target on the stock, and analysts'
projections for future earnings and revenue
growth.
If you are a shareholder of Civitas and believe the
proposed buyout price is too low or you're interested in learning
more about the investigation or your legal rights and remedies,
please contact lead analyst Jim
Baker (jimb@johnsonfistel.com) at
619-814-4471. If emailing, please include a
phone number.
Additionally, you can [Click here to join this action].
There is no cost or obligation to you.
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.
Contact:
Johnson
Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
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SOURCE Johnson Fistel, LLP