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Case Status:    ONGOING    
On or around 06/17/2019 (Ongoing date of last review)

Filing Date: June 14, 2019

According to the Complaint, BioScrip is a national provider of infusion and home care management solutions. The Company partners with physicians, hospital systems, payors, pharmaceutical manufacturers, and skilled nursing facilities to provide patients access to post-acute care services.

On March 14, 2019, the Board of Directors of BioScrip caused the Company to enter into an agreement and plan of merger with HC Group Holdings II, Inc. ("Option Care") and HC Group Holdings I, LLC ("Omega Parent", pursuant to which BioScrip and Option Care agreed to combine their respective businesses. Option Care is owned by investment funds affiliated with Madison Dearborn Partners, LLC and Walgreens Boots Alliance, Inc. Upon consummation of the Proposed Transaction, all shares of Option Care’s common stock will be cancelled and converted into the right of Omega Parent to receive 542,261,567 shares of BioScrip’s common stock. Following the close of the Proposed Transaction, Omega Parent will own approximately 79.5% of the issued and outstanding shares of the combined company. Additionally, 28,193,428.41 shares of BioScrip common stock will be issued to Omega Parent in respect of certain outstanding unvested contingent restricted stock units of BioScrip.

On March 15, 2019, the Company issued a press release announcing the proposed transaction.

On June 6, 2019, Defendants filed a proxy statement with the United States Securities and Exchange Commission, which seeks stockholder approval of the issuance of shares of BioScrip common stock to Omega Parent pursuant to the Merger Agreement, as well as approval of a third amended and restated certificate of incorporation of BioScrip and an amendment to the certificate of designations of Series A preferred stock of
BioScrip.

The Complaint alleges that the Proxy Statement omits material information with respect to the Proposed Transaction, which renders the Proxy Statement false and misleading.

COMPANY INFORMATION:

Sector: Healthcare
Industry: Healthcare Facilities
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: BIOS
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: D. Delaware
DOCKET #: 19-CV-01106
JUDGE: Hon. Colm F. Connolly
DATE FILED: 06/14/2019
CLASS PERIOD START: 03/15/2019
CLASS PERIOD END: 06/14/2019
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Rigrodsky & Long, P.A.
    919 N. Market Street, Suite 980, Rigrodsky & Long, P.A., DE 19803
    302.295.5310 302.295.5310 · info@rigrodskylong.com
  2. RM Law, P.C.
    1055 Westlakes Drive, Suite 3112, RM Law, P.C., PA 19312
    (484) 324-6800 ·
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