SHAREHOLDER UPDATE:  Brodsky & Smith, LLC Announces an Investigation  of  The Board of Directors of Universal American Corp. – UAM


BALA CYNWYD, December 2, 2016 (PR Newswire) – Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Universal American Corp. (“Universal American” or “the Company”) (NYSE: UAM-News) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to WellCare Health Plans, Inc. (“WellCare”).

Under the terms of the transaction, Universal American shareholders will receive only $10.00 in cash for each share of Universal American stock they own. The investigation concerns whether the Board of  Universal American breached their fiduciary duties to shareholders and whether WellCare is underpaying for the Company. The transaction may undervalue the Company and would result no real gain for many Universal American shareholders. For example, Universal American stock traded at $10.95 per share on June 18, 2015 and the amount being paid to Universal American shareholders may be below the premium paid in comparable transactions.

If you own shares of Universal American stock and wish to discuss the legal ramifications of  the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 510, Bala Cynwyd, PA  19004, or calling toll  free 877-LEGAL-90.

Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.