LHC Group Beats Securities Suit Over Almost Family Acquisition

LHC Group Inc. and Almost Family Inc. brushed off a proposed securities class action over their $2.4 billion merger after the Western District of Kentucky found no evidence that the companies made misstatements in the proxy distributed to shareholders recommending the deal.

LHC, one of the largest providers of home-based health care services, acquired Almost Family in a deal announced in November 2017 and finalized in April 2018.

Public stockholders of Almost Family brought the suit, alleging the merger consideration should have been higher due to Almost Family’s performance and prospects for further growth.

The financial projections in the proxy ...