An investigation for investors in NYSE:WCIC shares was announced concerning whether the takeover of WCI Communities Inc by Lennar Corporation for $25.95 per share is unfair to NYSE:WCIC stockholders.
Investors who purchased shares of WCI Communities Inc (NYSE:WCIC) and currently hold any of those NYSE:WCIC shares have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 – 1554.
The investigation by a law firm concerns whether certain directors of WCI Communities Inc breached their fiduciary duties owed to NYSE:WCIC investors in connection with the proposed acquisition.
On Sept. 22, 2016, WCI Communities Inc (NYSE:WCIC) announced the signing of a merger agreement under which Lennar Corporation (NYSE: LEN and LEN.B) has agreed to acquire all of the outstanding shares of WCI Communities Inc (NYSE:WCIC) common stock in a cash and stock transaction valued at $23.50 per NYSE:WCIC share.
However, given that at least one analyst has set the high target price for NYSE:WCIC shares at $25.00 per share and given that NYSE:WCIC shares reached as high as $25.95 per share in September 2015, the investigation concerns whether the offer is unfair to NYSE:WCIC stockholders. More specifically, the investigation concerns whether the WCI Communities Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders’ best interests in connection with the proposed sale.
WCI Communities Inc reported that its annual Total Revenue rose from $407 million in 2014 to $563.62 million in 2015 and that its Net Income grew from $21.60 million to $35.40 million.
Shares of WCI Communities Inc (NYSE:WCIC) closed on October 4, 2016, at $23.78 per share.
Those who are current investors in NYSE:WCIC shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North – Suite 423
92108 San Diego