IMS Health, Inc shareholder files lawsuit

PRLog (Press Release) - Nov 17, 2009 -
An investor in IMS Health, seeking more money in a planned $5.2 billion takeover led by TPG Capital, formerly Texas Pacific Group, filed a lawsuit in Delaware Chancery Court in Wilmington on behalf of current investors of IMS Health, Inc. (Public, NYSE:RX), who purchased the RX shares before November 05, 2009, alleging breaches of fiduciary duty and other violations of state law in connection with an alleged unfair takeover price.

If you are currently an investor in shares of IMS Health, Inc. (Public, NYSE:RX), and purchased the shares before November 05, 2009, and / or have additional information relating to the investigation, you should contact the Shareholders Foundation, Inc. at:

Email: mail@shareholdersfoundation.com  or at: +1 (858) 779 - 1554

The plaintiff alleges that “the merger comes at a time when the company’s stock price is undervalued but its prospects for growth and increased revenue are substantially increasing”. On November 05, 2009 IMS Health, Inc. announced that it has entered into a definitive agreement to be acquired by investment funds managed by TPG Capital and the CPP Investment Board in a transaction with a total value of $5.2 billion, including the assumption of debt. Under the proposed agreement, IMS Health, Inc shareholders will receive $22.00 cash for each share of IMS common stock (NYSE:RX ) they own. IMS Health, Inc said the agreement was unanimously approved by the IMS Board of Directors and that the offer represents a premium of approximately 50 percent over the closing share price on Friday, October 16, 2009. An IMS spokeswoman reportedly said in an e-mail that the company doesn’t comment on pending litigation.
According to a previous investigation by a law firm “the transaction appears to be unfair” to current investors of IMS Health, Inc. (NYSE:RX) because the “offer to purchase IMS Health, Inc. (NYSE:RX) per share appears opportunistically timed to take advantage of the current economic downturn”. Shares of IMS Health, Inc (NYSE:RX) traded at $20.73 per share after the announcement and at about $17 per share the day before the news. RX shares reached $22.82 per share in August ‘08, $25.13 per share in May 08, over $30 per share in September ’07, and almost $33 per share in 2007. The investigation “concerns whether the IMS Health Board of Directors breach their fiduciary duties to IMS Health, Inc. (RX) shareholders by agreeing to sell IMS Health at an unfair price thereby harming IMS Health, Inc and its shareholders”,  “whether the directors of IMS Health, Inc may have breached their fiduciary duties by not acting in RX shareholders' best interests”, and “the Company may not have adequately shopped itself around before entering into this transaction and, pursuant to this transaction, TPG Capital and the CPP Investment Board may be underpaying for IMS Health, thus unlawfully harming IMS (RX)shareholders.” IMS Health Incorporated, located in Norwalk, CT, reported in 2007 Total Revenue of $2.19257billion with a Net Income of $234.04million and in 2008 Total Revenue of $2.32953billion with a Net Income of $311.25million.

Those who are currently an investor in shares of IMS Health, Inc. (NYSE:RX), and purchased the shares before November 05, 2009, and / or have additional information relating to the investigation, should contact the Shareholders Foundation, Inc. at:

Email: mail@shareholdersfoundation.com  or at: +1 (858) 779 – 1554

Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423 -
92108 San Diego
Tel:+1-(858)-779-1554
Fax:+1-(858)-605-5739
mail@shareholdersfoundation.com
www.ShareholdersFoundation.com
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