Select Medical board investigated over $16.50/share acquisition deal amid potential conflicts of interest

Select Medical's board and senior management are under investigation by Bleichmar Fonti & Auld LLP for possible breaches of fiduciary duties related to the company's pending sale at $16.50 per share. The deal, announced in March 2026, involves a consortium including company insiders who are allowed to retain shares post-merger, unlike public shareholders. The investigation questions the fairness of the merger process and disclosures ahead of a shareholder vote scheduled for June 26, 2026. Shareholders are encouraged to seek legal advice as the merger could close soon after the vote, limiting their options to challenge the deal.