MONSEY, New York, June 24, 2024 (GLOBE NEWSWIRE) -- The law firm of Wohl & Fruchter LLP is investigating the fairness of the price of $1.43 per share in cash for which Sharecare, Inc. (Nasdaq: SHCR) (“Sharecare”) has agreed to be sold to Altaris, an investment firm exclusively focused on the healthcare industry. The sales price is below the price target for Sharecare of at least one Wall Street analyst (source: TipRanks).
If you remain a Sharecare shareholder and question the fairness of the price, you may contact our firm at the following link to discuss your legal rights at no charge:
https://wohlfruchter.com/cases/sharecare/
Alternatively, you may contact us by phone at 866-833-6245, or via email at alerts@wohlfruchter.com.
Why is there an investigation?
On June 21, 2024, Sharecare announced that upon the recommendation of a Special Committee of Sharecare’s board of directors, Sharecare had agreed to be sold to Altaris for $1.43 per share in cash.
“We are investigating whether the Sharecare Board of Directors acted in the best interests of Sharecare shareholders in approving the sale,” explained Joshua Fruchter, a founding partner of Wohl & Fruchter. “This includes whether the members of the Special Committee were truly independent and disinterested, whether the price agreed upon is fair to Sharecare shareholders, and whether all material information regarding the transaction has been fully disclosed.”
Notably, according to TipRanks, the sales price of $1.43 per share is below the price target for Sharecare of $2.00 per share set by Craig Hettenbach of Morgan Stanley.
The sales price is also below Sharecare’s 52-week high of $1.80 per share, which indicates that the purchase may be opportunistic.
About Wohl & Fruchter
Wohl & Fruchter LLP has for over a decade been representing investors in litigation arising from fraud and other corporate misconduct, and recovered hundreds of millions of dollars in damages for investors. Please visit our website, www.wohlfruchter.com, to learn more about our Firm, or contact one of our partners.
Contact:
Wohl & Fruchter LLP
Joshua E. Fruchter
Toll Free 866.833.6245
alerts@wohlfruchter.com
www.wohlfruchter.com
