Cases
Livongo Health, Inc.
Merger
Overview
Overview
- Date:
- 8/6/2020
- Case Caption:
- Banner v. Livongo Health, Inc., et al.
- Stock Symbol:
- LVGO
- Company Name - Buyer:
- Teladoc Health, Inc.
- Stock Symbol - Buyer:
- TDOC
- Status:
- Filed
- Merger Announcement Date:
- 8/5/2020
- Filing Date:
- 9/29/2020
- Court:
- U.S. District Court: Northern California
NEW YORK, August 6, 2020 – Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, has launched an investigation into whether the board members of Livongo Health, Inc. (NASDAQ: LVGO) breached their fiduciary duties or violated the federal securities laws in connection with the company’s merger with Teladoc Health, Inc. (NYSE: TDOC).
On August 5, 2020, Livongo announced that it had signed an agreement to be acquired by Teladoc for approximately $18.5 billion. Pursuant to the merger agreement, Livongo’s stockholders will receive 0.5920 shares of Teladoc common stock and $11.33 in cash for each share of Livongo common stock owned. The deal is scheduled to close in the fourth quarter of 2020.
Bragar Eagel & Squire is concerned that Livongo’s board of directors oversaw an unfair process and ultimately agreed to an inadequate deal price. Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for Livongo’s stockholders.
On August 5, 2020, Livongo announced that it had signed an agreement to be acquired by Teladoc for approximately $18.5 billion. Pursuant to the merger agreement, Livongo’s stockholders will receive 0.5920 shares of Teladoc common stock and $11.33 in cash for each share of Livongo common stock owned. The deal is scheduled to close in the fourth quarter of 2020.
Bragar Eagel & Squire is concerned that Livongo’s board of directors oversaw an unfair process and ultimately agreed to an inadequate deal price. Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for Livongo’s stockholders.