A lawsuit was filed by an investor in shares of Home Loan Servicing Solutions Ltd (NASDAQ:HLSS) in effort to stop the proposed takeover and Home Loan Servicing Solutions Ltd (NASDAQ:HLSS stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 03/25/2015 -- An investor, who currently holds shares of Home Loan Servicing Solutions Ltd (NASDAQ:HLSS), filed a lawsuit in effort to stop the proposed takeover of Home Loan Servicing Solutions Ltd by New Residential Investment Corp.
Investors who purchased shares of Home Loan Servicing Solutions Ltd (NASDAQ:HLSS) and currently hold any of those NASDAQ:HLSS shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:HLSS stockholders by agreeing to sell Home Loan Servicing Solutions Ltd. too cheaply via an unfair process to Residential Investment Corp
On February 22, 2015, New Residential Investment Corp. (NYSE:NRZ) and Home Loan Servicing Solutions, Ltd. (NASDAQ: HLSS) announced a merger agreement under which New Residential Investment Corp will acquire all of the outstanding shares of Home Loan Servicing Solutions Ltd (NASDAQ:HLSS) for $18.25 per share in cash, totaling approximately $1.3 billion.
However, the plaintiff claims that the proposed consideration NASDAQ:HLSS shareholders will receive is grossly inadequate and undervalues Home Loan Servicing Solutions Ltd. Indeed, NASDAQ:HLSS shares traded in 2013 as high as $25.24 per share. Furthermore,, Home Loan Servicing Solutions Ltd reported that its annual Total Revenue rose from $49.87 million in 2012 to $239.83 million in 2013 and that its Net Income increased from $19.62 million in 2012 to $117.66 million in 2013. Shares of Home Loan Servicing Solutions Ltd (NASDAQ:HLSS) grew from $13.26 per share in June 2012 to as high as $25.24 per share in July 2013. In addition, the plaintiff claims that the process is also unfair to NASDAQ:HLSS stockholders.
On March 23, 2015, NASDAQW:HLSS shares closed at $17.74 per share.
Those who are current investors in Home Loan Servicing Solutions Ltd (NASDAQ:HLSS) 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