Raytel gets class action lawsuit:
This article was originally published in Clinica
Members of Raytel's board, together with the company, have been named in a class action lawsuit alleging the company's proposed $31 million merger with SHL Telemedicine represents a breach of fiduciary duties of loyalty, good faith and independence. The company announced the proposed deal last month, with SHL offering to buy all Raytel shares for $10.25 per share. Raytel believes the lawsuit lacks merit and plans to defend itself vigorously.