An investigation was announced for investors in NYSE:FIG shares concerning whether the takeover of Fortress Investment Group LLC. by SoftBank Group Corp is unfair to NYSE:FIG stockholders.
Investors who purchased shares of Fortress Investment Group LLC (NYSE:FIG) and currently hold any of those NYSE:FIG shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The investigation by a law firm concerns whether certain Fortress Investment Group directors breached their fiduciary duties owed to NYSE:FIG investors in connection with the proposed acquisition.
On February 14, 2017, SoftBank Group Corp. and Fortress Investment Group LLC (NYSE:FIG) announced that they have entered into a merger agreement under which SoftBank will acquire Fortress Investment Group LLC (NYSE:FIG) for approximately $3.3 billion in cash. Under the terms of the merger agreement each Fortress Investment Group LLC (NYSE:FIG) Class A shareholder will receive $8.08 per share. In addition, each Fortress Class A shareholder may receive up to two regular quarterly dividends prior to the closing, each in an amount not to exceed $0.09 per Class A Share.
However, given that certain Fortress Investment Group LLC Principals have already agreed to vote shares representing an aggregate of 34.99% of the outstanding Fortress Investment Group LLC voting shares held by them in favor of the transaction, the investigation concerns whether the offer is unfair to NYSE:FIG stockholders. More specifically, the investigation concerns whether the Fortress Investment Group 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.
On February 27, 2017, shares of Fortress Investment Group LLC (NYSE:FIG) closed at $7.98 per share.
Those who are current investors in NYSE:FIG shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
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