NEW YORK, July 12, 2018 /PRNewswire/ -- WeissLaw LLP announced that it has filed a class action on behalf of shareholders of Express Scripts Holding Company ("Express Scripts") (NASDAQ: ESRX) seeking to pursue remedies under the Securities Exchange Act of 1934 (the "Exchange Act") in connection with the proposed acquisition of Express Scripts by Cigna Corporation ("Cigna"). The class action was commenced in the United States District Court for the Eastern District of Missouri, Eastern Division.
On March 8, 2018, Express Scripts and Cigna issued a joint press release announcing that they had entered into a definitive agreement pursuant to which Cigna and Express Scripts will be combined under a new holding company, New Cigna, which will be renamed "Cigna Corporation" immediately after the merger ("Proposed Transaction"). Under the terms of the agreement, Express Scripts shareholders will receive 0.2434 of a share of New Cigna common stock and $48.75 in cash for each Express Scripts common share held.
The complaint seeks injunctive relief on behalf of the named plaintiff and all Express Scripts shareholders. The plaintiff is represented by WeissLaw, which has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud. The complaint further alleges that in an attempt to secure shareholder approval for the merger, the defendants filed a materially false and/or misleading Registration Statement with the SEC in violation of the Exchange Act. The omitted and/or misrepresented information is believed to be material to Express Scripts shareholders' ability to make an informed decision whether to vote in favor of the Proposed Transaction.
If you wish to serve as lead plaintiff, you must move the Court no later than sixty (60) days from today. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff's counsel, Joshua M. Rubin of WeissLaw at 888.593.4771, or by e-mail at firstname.lastname@example.org. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions, recovering over a billion dollars for clients. If you have information or would like legal advice concerning possible corporate wrongdoing please email us at email@example.com.
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SOURCE WeissLaw LLP