Sun Healthcare TARGET of Investigation and 3 Hot Stocks in Our Sights
Sun Healthcare Group Inc (NASDAQ:SUNH): The law offices of Howard G. Smith reports that it is looking into possible claims against the Board of Directors of Sun Healthcare Group, Inc. regarding the suggested acquisition of Sun by Genesis Healthcare LLC. The deal is valued at around $275M. This case regards whether the Board of Directors at Sun breached their fiduciary responsibilities to stockholders by not adequately shopping the company prior to agreeing to begin the proposed transaction, and whether Sun has revealed all material information to shareholders regarding the transaction. Shares of Sun are flat at $8.35 today.
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ConAgra Foods, Inc. (NYSE:CAG): A consumer fraud lawsuit was filed against ConAgra Foods maintaining that the company’s Hebrew National brand hot dogs are not in fact kosher (as they are labeled). Eleven consumers filed the complaint in May in Minnesota state court, that meat-processing protocol of the company do not meet kosher standards, reports Reuters. Further, the suit alleges that the company did little or nothing” to rectify prior employee complaints about non-kosher meat and even warned or fired those who complained. Shares of ConAgra Foods, Inc. are trading 0.08% higher today.
Red Hat, Inc. (NYSE:RHT) is putting together a partnership with SAP around the use of SAP apps with Red Hat’s virtualization software. This tactic, which concurs with Red Hat reporting pricing for a cloud app development platform, shows how the company is attempting to develop an app infrastructure platform on top of its mainstay Linux software…and therefore contend more immediately with SAP rival Oracle (NASDAQ:ORCL), plus VMware (NYSE:VMW). Red Hat shares are trading 0.39% higher today.
Overland Storage, Inc. (NASDAQ:OVRL) are rising in pre-market trading following is announcement that Administrative Law Judge Charles Bullock of the U.S. International Trade Commission released a 125-page complete version of the Initial Determination, explaining the rationale for a ruling in a patent case. The ITC’s full Initial Determination is undisclosed and only attorneys in the ITC action can review. However, last week, Overland’s lawyers filed an emergency motion with the Administrative Law Judge to attain permission to reveal more information regarding the full Initial Determination. Overland shares are trading 5.15% higher today.
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