Odyssey Shareholders Sue Over $1B Gentiva Merger

Law360, New York (July 6, 2010, 3:56 PM EDT) -- A class of shareholders has slammed Odyssey HealthCare Inc. with a suit over its planned $1 billion sale to Gentiva Health Services Inc., seeking to derail a deal that they say undervalues the company by leaving them with only $27 per share.

The shareholders lodged their complaint against the company and its board of directors in the U.S. District Court for the Northern District of Texas on Friday, claiming that Odyssey breached its fiduciary duty by failing to ensure that shareholders would receive maximum value for...
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