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Stock Market & Financial Investment News

News Breaks
February 20, 2013
07:38 EDTADUSAddus HomeCare announces filing of complaint seeking temporary restraining order
Addus HomeCare announced that on February 19, received notice that Advantage Health Systems has filed an action in the Court of Chancery of the State of Delaware seeking, among other things, a temporary restraining order and a preliminary injunction to prevent the company from closing upon, or otherwise carrying out the company's agreement to sell, its home health division to LHG Group pursuant to the terms of the Asset Purchase Agreement, dated as of February 7, among subsidiaries of the company and LHC Group and certain of LHC Group's subsidiaries. Advantage's claims are predicated upon, among other things, its assertion that the sale contemplated by the Asset Purchase Agreement constitutes a breach of certain provisions of an agreement relating to an up to $1M earn-out entered into between the company and Advantage in connection with the company's acquisition of CarePro in 2010. The company believes Advantage's actions are without merit and will take appropriate legal action as necessary to preserve the company's rights. The company is fully committed to consummation of the transactions contemplated by the Asset Purchase Agreement as planned on or about February 28, although the actions taken by Advantage may or may not result in a delay.
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November 18, 2014
12:07 EDTADUSAddus HomeCare management to meet with Sidoti
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