Castlight’s $370 Million Sale to Vera Whole Health Draws Lawsuit

A Castlight Health Inc. shareholder sued the company and its board in Delaware, challenging its planned $370 million sale to Vera Whole Health Inc. as part of a deal that also includes a major investment of undisclosed size by insurance giant Anthem Inc.

The proposed class action, docketed Monday in Delaware Chancery Court, also targets Castlight’s financial adviser, Luxembourg-based William Blair & Co. It doesn’t name as defendants Anthem, Vera, or Vera’s private equity backers at Clayton, Dubilier & Rice LLC.

The lawsuit accuses Castlight of fudging the company’s financial projections downward during merger talks with Vera, “resulting in a ...