|Company name||Diplomat Pharmacy, Inc.|
NEW YORK, December 11, 2019 – Bragar Eagel & Squire, P.C., a nationally recognized stockholder law firm, has launched an investigation into whether the board members of Diplomat Pharmacy, Inc. (NYSE: DPLO) breached their fiduciary duties or violated the federal securities laws in connection with the company’s proposed sale to UnitedHealth Group Inc.
On December 9, 2019, Diplomat announced that it had signed an agreement to be acquired by Merck for $4 in cash, or a total of approximately $300 million. The deal is scheduled to close in early 2020.
Bragar Eagel & Squire is concerned that Diplomat’s board of directors oversaw an unfair process and ultimately agreed to an inadequate deal price. Indeed, Diplomat’s stock has recently traded well above the $4 per share deal price. Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for Diplomat stockholders.