Castlight Health controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2022
Investigation into the fairness of the proposed acquisition price
After Vera Whole Health announced its proposed acquisition of Castlight, Halper Sadeh LLP announced an investigation into whether the $2.05-per-share tender offer fairly valued Castlight's Class A and Class B shares. The available reference material does not identify the investigation's final outcome.
2022
Shareholder files lawsuit over Castlight acquisition
Lawsuit filed
In January 2022, Castlight Health shareholder Deven Shah filed a lawsuit alleging securities-law violations related to the company's proposed merger with Vera Whole Health. The complaint alleges flaws in the sale process and deficiencies in Castlight's recommendation statement. These are allegations made in the lawsuit and not determinations by a court or regulator. The filing concerns the proposed acquisition and the disclosures provided to shareholders in connection with it.
Source excerpt
On Tuesday, Deven Shah filed a complaint in the Northern District of California against Castlight Health, Inc., and nine individual defendants alleging violations of the Securities and Exchange Act of 1934 in connection with a newly announced merger
Shah alleges that the sale process of Castlight to Vera was flawed and was conducted out of the self-interest of the board of directors.