Metropolitan Health Investors Fight $850M Humana Deal

Law360, New York (November 13, 2012, 3:42 PM EST) -- A proposed class of Metropolitan Health Networks Inc. investors sued the company and prospective buyer Humana Inc. in Florida state court on Thursday, claiming the $850 million proposed sale to the health insurer undervalues the medical services organization and is designed to shut out other potential buyers.

The suit accuses MHN's directors of breaching their fiduciary duty in approving the sale to Humana, announced Nov. 5, as well as MHN and Humana of aiding and abetting the breaches of fiduciary duty.

Louisville, Ky.-based Humana will pay...
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