ResCare Buyout Has $12 Million Breakup Fee Landmine: Buyout Has Already Generated Two Lawsuits

OPEN MINDS, The Behavioral Health & Social Service Industry Analyst Industry News The $380 million buyout of ResCare Inc. by members of senior management and an outside investor group should be completed by September 30, if it is not halted by two class-action lawsuits brought against several ResCare directors. The buyout hinges on approval by shareholders - two of whom have filed lawsuits against the company and four of its directors, alleging that ResCare and the directors breached fiduciary duties in connection with the buyout proposal announced on February 24. ResCare had agreed to ignore unsolicited interest from outside bidders . . .