{"id":4266,"date":"2006-04-13T00:00:00","date_gmt":"2006-04-13T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"hedge-fund-sues-lifepoint-claims-mergers-flawed","status":"publish","type":"post","link":"https:\/\/staging.hedgeco.net\/news\/04\/2006\/hedge-fund-sues-lifepoint-claims-mergers-flawed.html","title":{"rendered":"Hedge fund sues LifePoint, claims mergers flawed"},"content":{"rendered":"<p>Reuters &#8211; Hedge fund Accipiter Capital Management on Wednesday said it filed suit against hospital chain LifePoint Hospitals Inc. (LPNT.O: <a href=\"http:\/\/today.reuters.com\/stocks\/overview.aspx?symbol=LPNT.O\">Quote<\/a>, <a href=\"http:\/\/today.reuters.com\/stocks\/CompanyProfile.aspx?symbol=LPNT.O\">Profile<\/a>, <a href=\"http:\/\/today.reuters.com\/stocks\/ResearchReports.aspx?symbol=LPNT.O\">Research<\/a>) over the fund&#8217;s bid to nominate new board members at LifePoint&#8217;s upcoming annual meeting.<\/p>\n<p>  Accipiter, which owns 1.8 percent of LifePoint shares, is fighting management over several recent mergers it calls problematic, including a recent LifePoint deal to buy five hospitals from the No.  1 hospital company HCA Inc. (HCA.N: <a href=\"http:\/\/today.reuters.com\/stocks\/overview.aspx?symbol=HCA.N\">Quote<\/a>, <a href=  \"http:\/\/today.reuters.com\/stocks\/CompanyProfile.aspx?symbol=HCA.N\">Profile<\/a>, <a href=\"http:\/\/today.reuters.com\/stocks\/ResearchReports.aspx?symbol=HCA.N\">Research<\/a>).<\/p>\n<p>  Last month, Accipiter notified Nashville, Tennessee-based LifePoint that it would nominate several board members at its annual meeting. LifePoint responded that the fund made the nominations too  late.<\/p>\n<p>  Accipiter, in a regulatory filing on Wednesday, said it filed a complaint against LifePoint on April 10 in the Delaware Court of Chancery, alleging LifePoint breached its fiduciary duties by  blocking the Accipiter board slate and seeking a waiver of the advance notice requirement.<\/p>\n<p><a href=\"http:\/\/www.google.com\/news\/url?sa=T&amp;ct=us\/3-0&amp;fd=R&amp;url=http:\/\/today.reuters.com\/investing\/financeArticle.aspx%3Ftype%3DfundsNews2%26storyID%3D2006-04-12T174841Z_01_N12335160_RTRIDST_0_HEALTH-LIFEPOINT.XML&amp;cid=1105771679&amp;ei=hxw-RNGmJYjMpwLvotiIDA\">ReadComplete Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Reuters &#8211; Hedge fund Accipiter Capital Management on Wednesday said it filed suit against hospital chain LifePoint Hospitals Inc. (LPNT.O: Quote, Profile, Research) over the fund&#8217;s bid to nominate new board members at LifePoint&#8217;s upcoming annual meeting. Accipiter, which owns [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-4266","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/staging.hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/4266","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/staging.hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=4266"}],"version-history":[{"count":0,"href":"https:\/\/staging.hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/4266\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=4266"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=4266"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=4266"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}