An investigation on behalf of investors of Fortress Investment Group LLC (NYSE:FIG) in connection with the proposed takeover was announced and NYSE:FIG stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 02/23/2017 -- An investigation on behalf of investors, who currently hold NYSE:FIG shares, was announced concerning the buyout of Fortress Investment Group LLC by SoftBank Group Corp
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 858-779-1554.
The investigation by a law firm concerns whether certain officers and directors of Fortress Investment Group LLC 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 22, 2017, shares of Fortress Investment Group LLC (NYSE:FIG) closed at $7.99 per share.
Those who are current investors in Fortress Investment Group LLC 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