Claims Trimmed In Suit Over Amacore-Lifeguard Deal

Law360, New York (July 8, 2010, 5:01 PM EDT) -- A federal judge has taken a finely honed knife to shareholder claims against the Amacore Group Inc., CEO Jay Shafer and director Jerry Katzman, issuing a mixed ruling in a 12-count suit accusing the company of committing fraud when it entered into a $14 million stock deal to buy fellow health plan provider LifeGuard Benefit Services Inc.

The first count in the complaint, accusing Amacore of fraud in the inducement of a merger agreement, was left intact with respect to Amacore and Shafer, according to Judge...
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