SHAREHOLDER ALERT: Brower Piven Commences An Investigation Into The Proposed Sale Of Diamond Resorts International, Inc. And ...
June 29 2016 - 10:00PM
Business Wire
The securities litigation law firm of Brower Piven, A
Professional Corporation, has commenced an investigation into
possible breaches of fiduciary duty and other violations of state
law by the Board of Directors of Diamond Resorts International,
Inc. (NYSE: DRII) (“Diamond Resorts” or the “Company”) relating to
the proposed buyout of Diamond Resorts by affiliates of certain
funds managed by affiliates of Apollo Global Management, LLC.
Under the terms of the agreement, Diamond Resorts shareholders
are anticipated to receive $30.25 in cash for each share of Diamond
Resorts common stock held. The firm’s investigation seeks to
determine, among other things, whether the Company’s Board of
Directors failed to satisfy their duties to shareholders, including
whether the Board adequately pursued alternatives to the
acquisition and whether the Board obtained the best price possible
for the Company’s shares of common stock.
The transaction may undervalue the Company and would result
in no real gain or a loss for many long-term shareholders,
especially given that the 52-week high for the Company’s stock
is $32.49. Additionally, according to Yahoo! Finance,
at least one Wall Street analyst has issued a price target for
Diamond Resorts stock at $35.00 per share.
If you currently own common stock of Diamond Resorts and believe
that the proposed buyout price is too low, or you would like to
learn more about the investigation being conducted by Brower Piven,
please visit our website at
http://www.browerpiven.com/currentinvestigations.html. You may also
request more information by contacting Brower Piven either by email
at hoffman@browerpiven.com or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in
litigating securities and other class action cases and have been
advocating for the rights of shareholders since the 1980s.
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version on businesswire.com: http://www.businesswire.com/news/home/20160629006476/en/
Brower Piven, A Professional CorporationCharles J. Piven,
410-415-66161925 Old Valley RoadStevenson, Maryland
21153hoffman@browerpiven.com
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