STEVENSON, Md., Jan. 18, 2018 (GLOBE NEWSWIRE) -- The securities litigation law firm of Brower Piven, A Professional Corporation, notifies investors that a class action lawsuit has been commenced in the United States District Court for the District of Connecticut in connection with the sale of Aetna, Inc. (NYSE:AET) (“Aetna” or the “Company”) to CVS Health Corporation.

According to the complaint, under the terms of the agreement, each share of Aetna’s public common stock will be converted into the right to receive (i) 0.8378 (the “Exchange Ratio”) fully paid and non-assessable shares of CVS Common Stock (the “Share Consideration”) and (ii) $145.00 in cash without interest thereon (the “Cash Consideration” and, together with the Share Consideration, collectively the “Merger Consideration”), which would value Aetna at approximately $207.94 per share. The complaint states that the Proposed Transaction is valued at approximately $77 billion.

The complaint alleges that on January 4, 2018, in order to convince Aetna’s stockholders to vote in favor of the Proposed Transaction, Defendants authorized the filing of a materially incomplete and misleading Form S-4 Registration Statement with the Securities and Exchange Commission in violation of Sections 14(a) and 20(a) of the Securities Exchange Act of 1934.

According to the complaint, the S-4 contains materially incomplete and misleading information concerning the financial projections for the Company, the valuation analyses performed by the Company’s financial advisor, Lazard Frères & Co. LLC, in support of its fairness opinions, the terms and details surrounding any alternative indications of interest in the Company solicited or received from other company, and the Merger Consideration.

Investors who wish to become proactively involved in the litigation have until March 19, 2018 to seek appointment as lead plaintiff.  Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice or may choose to do nothing and remain an absent class member.

If you currently Aetna own common stock and would like to learn more about this lawsuit and your ability to participate as a plaintiff, without cost or obligation to you, please contact Brower Piven either by email at hoffman@browerpiven.com or by telephone at (410) 415-6616.  You may also visit our website at http://www.browerpiven.com/casesandinvestigations.html. 

Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of stockholders since the 1980s.

CONTACT:
Charles J. Piven
Brower Piven, A Professional Corporation
1925 Old Valley Road
Stevenson, Maryland 21153
Telephone: 410-415-6616
hoffman@browerpiven.com