Stull, Stull & Brody is Investigating Claims on Behalf of BioScrip, Inc. Shareholders
September 21 2015 - 8:46PM
Stull, Stull & Brody today announced that a complaint has been
filed and that it has commenced an investigation relating to
BioScrip, Inc.'s ("BioScrip" or the "Company") (NASDAQ:BIOS) Dead
Hand Proxy Put in the Company's August 6, 2015, fourth amendment of
a credit agreement dated July 31, 2013, for which SunTrust is the
administrative agent (the "Credit Agreement").
The Credit Agreement contains a Dead Hand Proxy Put which
permits SunTrust to accelerate payment for all outstanding debt and
unpaid interest if a majority of the Board is replaced as the
result of a proxy contest initiated not on or on behalf of the
Board. The purpose and effect of the Dead Hand Proxy Put is
to deter proxy contests and entrench the incumbent Board. Stull,
Stull & Brody is investigating whether the Dead Hand Proxy Put
is a violation of fiduciary duties owed to BioScrip's shareholders
by its Board of Directors, and whether the Dead Hand Proxy Put
should be enjoined.
If you hold BioScrip stock and have questions about your legal
rights or interests with respect to these matters, please contact
Michael Klein, Esq. at Stull, Stull & Brody by e-mail at
BIOS@ssbny.com, by calling toll-free 1-800-337-4983 x147, by fax to
1-212-490-2022, or by writing to Stull, Stull & Brody, 6 East
45th Street, New York, NY 10017. You can also visit our website at
www.ssbny.com.
You may retain Stull, Stull & Brody, or other counsel of
your choice, to represent you. Stull, Stull & Brody has
litigated many class actions for violations of securities laws in
federal courts over the past 40 years and has obtained court
approval of substantial settlements on numerous occasions. Stull,
Stull & Brody maintains offices in New York and Beverly
Hills.
Attorney Advertising. Prior Results Do Not Guarantee A Similar
Outcome.
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