Civitas (CIVI) Alert: Johnson Fistel Investigates Proposed Sale of Civitas Solutions, Inc. to Centerbridge Partners, L.P.; Are Shareholders Getting a Fair Deal?

SAN DIEGO, Dec. 18, 2018 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Civitas Solutions, Inc. (NYSE: CIVI) ("Civitas") breached their fiduciary duties in connection with the proposed sale of the Company to Centerbridge Partners, L.P. ("Centerbridge").

On December 18, 2018, Civitas announced that it had signed a definitive merger agreement with Centerbridge. Under the terms of the merger agreement, Centerbridge will acquire all outstanding shares of Civitas common stock for $17.75 in cash per share of Civitas common stock.

The investigation concerns whether the Civitas board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for Civitas shares of common stock. Nationally recognized Johnson Fistel is investigating whether the proposed deal represents adequate consideration, especially given that one Wall Street analyst has a $20.00 price target on the stock, and analysts' projections for future earnings and revenue growth. 

If you are a shareholder of Civitas and believe the proposed buyout price is too low or you're interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker ([email protected]) at 619-814-4471. If emailing, please include a phone number.

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About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit https://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.

Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
[email protected]

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SOURCE Johnson Fistel, LLP