NEW YORK, Aug. 5, 2020 /PRNewswire/ — WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Livongo Health, Inc. (“LVGO” or the “Company”) (NASDAQ: LVGO) in connection with the proposed acquisition of the Company by Teladoc Health, Inc. (“TDOC”) (NYSE: TDOC). Under the terms of the merger agreement, LVGO shareholders will receive 0.5920 TDOC shares and $11.33 in cash for each share of LVGO common stock that they own, representing implied per-share merger consideration of $131.32 based upon TDOC’s August 5, 2020 closing price of $202.69.
If you own LVGO shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
Or please contact:
Joshua Rubin, Esq.
1500 Broadway, 16th Floor
New York, NY 10036
In light of the fact that the Company’s directors, executive officers and institutional investors appear to control approximately 63% of the Company’s common stock, WeissLaw is investigating whether LVGO’s board acted independently in agreeing to the proposed acquisition and whether the $131.32 implied per share merger consideration reflects adequate value for LVGO stockholders. Notably, at least one analyst set a price target of $150.00 per LVGO share, nearly $20.00 above the implied per share merger consideration.
Given these facts, WeissLaw is concerned whether LVGO’s board was truly independent in agreeing to the proposed acquisition, whether the proposed acquisition undervalues the Company, and whether all material information related to the proposed acquisition will be fully and fairly disclosed to LVGO shareholders.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at [email protected]
SOURCE WeissLaw LLP