LegalJul 6, 2026, 06:22 AM
Cross Country Healthcare Addresses Merger Lawsuits, Supplements Proxy
AI Summary
Cross Country Healthcare announced that its special meeting to approve the merger with KL Criss Cross Intermediate, LLC is scheduled for July 16, 2026. The company has received demand letters and faces two lawsuits (Malone Action and Walsh Action) from purported stockholders alleging material omissions and misrepresentations in its definitive proxy statement. While denying the claims, Cross Country Healthcare has decided to voluntarily supplement the proxy statement to alleviate risks and uncertainties.
Key Highlights
- Special Meeting for merger approval scheduled for July 16, 2026.
- Stockholders of record as of June 12, 2026, are eligible to vote.
- Merger expected to close in Q3 2026, subject to stockholder approval.
- Company received demand letters alleging deficient proxy statement disclosures.
- Two lawsuits (Malone Action, Walsh Action) filed challenging merger disclosures.
- Company denies claims but will voluntarily supplement the Proxy Statement.
Price Impact
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