Universal American Financial Corp.

A class action lawsuit has been filed claiming management led a buyout offer to purchase all public shares or Universal American Financial for $18.16 per share is unfair, and constitutes a breach of the fiduciary duties of the directors involved. The class alleges the buyout price is unfair because it does not adequately compensate the public shareholders for the value of their shares which are worth significantly more than the price offered. Further, it is alleged that the defendant has access to material nonpublic information which if disclosed would likely demonstrate the unfairness of the offer.