Please Note: The Settlement Hearing in this case, originally scheduled for December 13, 2019, has been rescheduled to December 20, 2019 at 9:00 A.M. The location is the same. Please check back for any updates.
What is this lawsuit about?
Plaintiffs allege that certain current and former members of MedImpact’s Board of Directors breached their fiduciary duties or aided and abetted others’ breaches of their fiduciary duties. Specifically, Plaintiffs allege that MedImpact’s Board of Directors breached their duties by failing to provide basic financial information to minority shareholders, permitting the controlling shareholder to take liquidity from MedImpact in the form of loans and causing MedImpact to repurchase shares from the minority stockholders at unfair prices. Plaintiffs also assert derivative claims on behalf of MedImpact for corporate waste and breach of fiduciary duty.
Who is included?
The Court has preliminarily certified for purposes of the Settlement a class that consists of, subject to certain exceptions identified below, the following individuals:
All persons who held stock or options of MedImpact as of August 16, 2018.
The Court has also preliminarily certified for purposes of the Settlement two subclasses that consist of, subject to certain exceptions identified below, the following individuals:
||All persons who currently (i.e., as of September 4, 2019) hold MedImpact stock or options.
||All persons who participated in MedImpact’s July 2018 Offer but did not accept the offer of additional payment associated with MedImpact’s November 2018 Offer.