Change Healthcare Sued Over $8 Billion Deal With UnitedHealth

A pension fund sued Change Healthcare Inc. in Delaware, the same day as an investor vote approving its $8 billion sale to UnitedHealth Group Inc., seeking to investigate whether its board and backers at Blackstone Group LP pushed the deal to maximize side payments for themselves.

“While insiders are receiving significant and unique financial benefits from the proposed transaction, Change stockholders are being left with an unfair price for their shares that fails to reflect the company’s strong growth prospects,” the complaint says.

The lawsuit, filed late Tuesday in Delaware Chancery Court, targets the proposed $25.75-a-share all-cash merger between ...