PE Firms May Appeal Profit-Split Court Win By Encompass Health, Enhabit

Dow Jones

06 Dec 2024

By Dean Seal

VitalCaring Group's private equity backers may appeal a judge's ruling that the home-health and hospice company has to split profits with Encompass Health and Enhabit because it was formed illicitly by former Encompass senior officers.

The Vistria Group and Nautic Partners said in a joint statement that they are considering "all available options," including an appeal, related to the Delaware Court of Chancery's decision to award Encompass and Enhabit 43% of VitalCaring Group's profits.

The court said Thursday that April Anthony, Luke James and Chris Walker breached their fiduciary duty of loyalty to Encompass when they were senior officers at its former home health and hospice division, which became Enhabit after a 2022 spinoff.

The trio was found to have usurped Encompass' acquisition opportunities, used its confidential information and poached its key employees with the promise of equity in VitalCaring Group, the competitor that Anthony now leads.

The judge further ruled that Vistria Group and Nautic Partners were aware of and aided the misconduct of the three former officers.

The private equity firms said in a statement on Thursday evening that they are still reviewing the court's decision. "Nautic and The Vistria Group are committed to the highest standards of integrity and compliance across our respective operations and those of our portfolio companies," they said.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

December 06, 2024 08:01 ET (13:01 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

1
2
3
4
5
6
7
8
9
10

{"basename":"","ssrTDKData":{"titleTemplate":"%s - Tiger Brokers","title":"Tiger Brokers | Global Stocks, Options & Futures Trading App","description":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","keywords":"tiger brokers,tiger trade,tiger brokers singapore,broker online,stock trading in singapore,share trading singapore,brokerage firm singapore,trading app,stock broker singapore,stock trading platforms,trading account","social":{"ogDescription":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.be62fbe1.png","ogUrl":"https://www.itiger.com/news/2489287350"},"companyName":"Tiger Brokers"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"SGP","license":"TBSG","edition":"fundamental"},"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"2489287350\",edition:\"fundamental\",,,undefined,":{"share":"https://ttm.financial/m/news/2489287350?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-12-06 21:01","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2489287350","market":"sg","top_or_hot":-1,"title":"PE Firms May Appeal Profit-Split Court Win By Encompass Health, Enhabit","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Dean Seal \n</p>\n<pre>\n \n</pre>\n<p>\n  VitalCaring Group's private equity backers may appeal a judge's ruling that the home-health and hospice company has to split profits with Encompass Health and Enhabit because it was formed illicitly by former Encompass senior officers. \n</p>\n<p>\n  The Vistria Group and Nautic Partners said in a joint statement that they are considering \"all available options,\" including an appeal, related to the Delaware Court of Chancery's decision to award Encompass and Enhabit 43% of VitalCaring Group's profits. \n</p>\n<p>\n  The court said Thursday that April Anthony, Luke James and Chris Walker breached their fiduciary duty of loyalty to Encompass when they were senior officers at its former home health and hospice division, which became Enhabit after a 2022 spinoff. \n</p>\n<p>\n  The trio was found to have usurped Encompass' acquisition opportunities, used its confidential information and poached its key employees with the promise of equity in VitalCaring Group, the competitor that Anthony now leads. \n</p>\n<p>\n  The judge further ruled that Vistria Group and Nautic Partners were aware of and aided the misconduct of the three former officers. \n</p>\n<p>\n  The private equity firms said in a statement on Thursday evening that they are still reviewing the court's decision. \"Nautic and The Vistria Group are committed to the highest standards of integrity and compliance across our respective operations and those of our portfolio companies,\" they said. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Dean Seal at dean.seal@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  December 06, 2024 08:01 ET (13:01 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>PE Firms May Appeal Profit-Split Court Win By Encompass Health, Enhabit</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPE Firms May Appeal Profit-Split Court Win By Encompass Health, Enhabit\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2024-12-06 21:01</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Dean Seal \n</p>\n<pre>\n \n</pre>\n<p>\n  VitalCaring Group's private equity backers may appeal a judge's ruling that the home-health and hospice company has to split profits with Encompass Health and Enhabit because it was formed illicitly by former Encompass senior officers. \n</p>\n<p>\n  The Vistria Group and Nautic Partners said in a joint statement that they are considering \"all available options,\" including an appeal, related to the Delaware Court of Chancery's decision to award Encompass and Enhabit 43% of VitalCaring Group's profits. \n</p>\n<p>\n  The court said Thursday that April Anthony, Luke James and Chris Walker breached their fiduciary duty of loyalty to Encompass when they were senior officers at its former home health and hospice division, which became Enhabit after a 2022 spinoff. \n</p>\n<p>\n  The trio was found to have usurped Encompass' acquisition opportunities, used its confidential information and poached its key employees with the promise of equity in VitalCaring Group, the competitor that Anthony now leads. \n</p>\n<p>\n  The judge further ruled that Vistria Group and Nautic Partners were aware of and aided the misconduct of the three former officers. \n</p>\n<p>\n  The private equity firms said in a statement on Thursday evening that they are still reviewing the court's decision. \"Nautic and The Vistria Group are committed to the highest standards of integrity and compliance across our respective operations and those of our portfolio companies,\" they said. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Dean Seal at dean.seal@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  December 06, 2024 08:01 ET (13:01 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SG9999004303.SGD","symbol_name":"Nikko AM Shenton Global Opportunities SGD","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2489287350","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2489287350","pubTimestamp":1733490060,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"VitalCaring Group's private equity backers may appeal a judge's ruling that the home-health and hospice company has to split profits with Encompass Health and Enhabit because it was formed illicitly by former Encompass senior officers.The Vistria Group and Nautic Partners said in a joint statement that they are considering \"all available options,\" including an appeal, related to the Delaware Court of Chancery's decision to award Encompass and Enhabit 43% of VitalCaring Group's profits.The court said Thursday that April Anthony, Luke James and Chris Walker breached their fiduciary duty of loyalty to Encompass when they were senior officers at its former home health and hospice division, which became Enhabit after a 2022 spinoff.The trio was found to have usurped Encompass' acquisition opportunities, used its confidential information and poached its key employees with the promise of equity in VitalCaring Group, the competitor that Anthony now leads.The private equity firms said in a stat","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"SG9999004303.SGD":"Nikko AM Shenton Global Opportunities SGD","EHC":"Encompass Health Corporation","BK4196":"保健护理服务","LU2237957902.USD":"NIKKO AM GLOBAL EQUITY \"F\" (USD) ACC","EHAB":"Enhabit, Inc.","LU1983260115.SGD":"Janus Henderson Horizon Global Sustainable Equity A2 SGD-H","SGXZ23171101.USD":"NIKKO AM SHENTON GLOBAL OPPORTUNITIES (USD) ACC","LU2237957811.SGD":"NIKKO AM GLOBAL EQUITY \"F\" (SGD) ACC","BK4185":"保健护理机构"},"translate_title":"私募股权公司可能会对Encompass Health、Enhabit在利润分割法庭上获胜提出上诉","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"EHAB":0.9,"EHC":0.9},"content_text":"By Dean Seal \n\n\n \n\n\n  VitalCaring Group's private equity backers may appeal a judge's ruling that the home-health and hospice company has to split profits with Encompass Health and Enhabit because it was formed illicitly by former Encompass senior officers. \n\n\n  The Vistria Group and Nautic Partners said in a joint statement that they are considering \"all available options,\" including an appeal, related to the Delaware Court of Chancery's decision to award Encompass and Enhabit 43% of VitalCaring Group's profits. \n\n\n  The court said Thursday that April Anthony, Luke James and Chris Walker breached their fiduciary duty of loyalty to Encompass when they were senior officers at its former home health and hospice division, which became Enhabit after a 2022 spinoff. \n\n\n  The trio was found to have usurped Encompass' acquisition opportunities, used its confidential information and poached its key employees with the promise of equity in VitalCaring Group, the competitor that Anthony now leads. \n\n\n  The judge further ruled that Vistria Group and Nautic Partners were aware of and aided the misconduct of the three former officers. \n\n\n  The private equity firms said in a statement on Thursday evening that they are still reviewing the court's decision. \"Nautic and The Vistria Group are committed to the highest standards of integrity and compliance across our respective operations and those of our portfolio companies,\" they said. \n\n\n \n\n\n  Write to Dean Seal at dean.seal@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  December 06, 2024 08:01 ET (13:01 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1,"code":"91000000","status":"200"}}}