Kindred Healthcare Inc. shareholders are asking a federal judge to pause the company’s $4.1 billion sale to Humana Inc. and two private equity firms until it fixes “misleading” disclosures.
A proposed class action, filed Feb. 8 in the U.S. District Court for the District of Delaware, alleges the directors of the Louisville, Ky.-based firm omitted important financial projections from its proxy materials related to the merger. Kindred stockholders will receive $9 in cash per share from the deal, which splits the company into two parts—a home health and hospice business, and a specialty hospital unit.
Humana, also based in Louisville, ...
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