September 14, 2011 (San Diego, CA) – Robbins Umeda LLP announces that the firm commenced a class action lawsuit on September 12, 2011, in the U.S. District Court for the Middle District of Tennessee, Nashville Division, on behalf of all persons who hold common stock of Emdeon Inc. (“Emdeon”) (NYSE: EM) against Emdeon and its board of directors for, among other things, violations of sections 14(a) and 20(a) of the Securities and Exchange Act of 1934 in connection with the proposed acquisition of Emdeon by Blackstone Capital Partners VI, L.P. (“Blackstone”).
The complaint arises out of an August 4, 2011 press release announcing that Emdeon had entered into a definitive merger agreement with Blackstone, pursuant to which Emdeon shareholders would receive $19.00 in cash for each share of Emdeon they own (the “Proposed Acquisition”).
The complaint alleges that certain of the defendants, in connection with Proposed Acquisition, breached or aided and abetted the other defendants’ breaches of their fiduciary duties. The complaint further alleges that, in an attempt to secure shareholder approval of the Proposed Acquisition, the defendants filed a materially misleading Preliminary Proxy on Schedule 14A with the U.S. Securities and Exchange Commission in violation of sections 14(a) and 20(a) of the Securities Exchange Act of 1934. The omitted and/or misrepresented information is believed to be material in assisting Emdeon shareholders in making an informed decision whether or not to vote in favor of the Proposed Acquisition.
Plaintiff seeks injunctive relief on behalf of all Emdeon shareholders as of August 4, 2011 (the “Class”). The plaintiff is represented by Robbins Umeda LLP.
If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from September 14, 2011. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Gregory E. Del Gaizo, Esq. of Robbins Umeda LLP at 800-350-6003 or via the shareholder information form. Any member of the Class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
* The firm name changed from Robbins Umeda LLP to Robbins Arroyo LLP on January 1, 2013.
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