Odyssey HealthCare, Inc. board under investor investigation

May 25, 2010 - PRLog -- An investigation on behalf of current investors in Odyssey HealthCare, Inc. ) concerning shareholder claims over possible breaches of fiduciary duty by the board of directors of Odyssey HealthCare was announced.

If you currently hold shares of Odyssey HealthCare, Inc. , you have certain options and you should contact the Shareholders Foundation, Inc by email at mail@shareholdersfoundation.com or call +1 (858) 779 - 1554.

The investigation by law firm focuses on potential breaches of fiduciary duty and other violations of state law by the Board of Directors of Odyssey HealthCare arising out of their attempt to sell Odyssey HealthCare, Inc.  to Gentiva Health Services, Inc. Odyssey HealthCare, Inc., located in Dallas, Texas, is a provider of hospice care in the United States. Odyssey HealthCare, Inc. reported in 2007 Total Revenue of $398.23million, in 2008 $616.05million, and in 2009 $686.44million.
On Monday, May 24, 2010, Odyssey HealthCare, Inc.   and Gentiva Health Services, Inc.  announced that they have entered into a merger agreement unanimously approved by the board of directors whereby Gentiva Health Services will acquire Odyssey HealthCare, Inc in an all cash transaction for a price of $27 per share of Odyssey common stock or an aggregate purchase price of approximately $1.0 billion.
Shares of Odyssey HealthCare, Inc. (ODSY) traded at $26.37 per share after the takeover announcement, and at $21.25 per share days before the news.

The investigation by a law firm “concerns whether the Odyssey HealthCare, Inc. Board of Directors breached their fiduciary duties to Odyssey HealthCare, Inc. (ODSY) stockholders by failing to adequately shop the Company prior to entering into the agreement, whether the Board of Directors breached their fiduciary duties by not seeking a deal that would provide better value Odyssey HealthCare, Inc. , and whether Gentiva Health Services, Inc. is underpaying for Odyssey HealthCare, Inc. (ODSY), thus unlawfully harming ODYS stockholders.”

Those who currently hold shares of Odyssey HealthCare, Inc. (Public, NASDAQ-ODSY), have certain options and should contact the Shareholders Foundation, Inc by email at mail@shareholdersfoundation.com or call +1 (858) 779 – 1554.

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