South Florida Law Firm -- Law Office of Jonathan M. Stein, P.L., -- Investigates Possible Breach of Fiduciary Duty by the Board of Continucare Corporation

BOCA RATON, Fla.--(BUSINESS WIRE)--The Law Office of Jonathan M. Stein, P.L. is investigating the Board of Directors of Continucare Corporation ("Continucare" or the "Company") (NYSE: CNU) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to complete a sale of the Company to Metropolitan Health Networks, Inc. Under the terms of the proposed transaction, Continucare shareholders are to receive $6.25 per share in cash, and 0.0414 of a share of Metropolitan common stock for each share of Continucare they own, for a total transaction value of about $416 million or $6.45 per share. Phillip Frost, M.D., a director of the Company, and other shareholders affiliated with Dr. Frost, who collectively own approximately 43% percent of Continucare stock, have agreed to vote their shares in favor of the merger. A vote of only a majority of Continucare’s outstanding common stock will be required to approve the merger agreement.