A Convey Health Solutions Holdings Inc. investor filed suit in Delaware, citing fears that its planned $1.1 billion buyout by TPG Inc. may have been timed to let the private equity giant take the company private at a discount by exploiting its short-term stock woes.
The lawsuit, filed Wednesday, seeks internal files to investigate concerns that a Convey board with ties to TPG pushed the transaction while the company’s share price was artificially depressed by the broad decline in equity markets this year and by atypically weak first-quarter results.
Although the $10.50-a-share buyout price reflects a premium over Convey’s recent ...
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