SHAREHOLDER ALERT: Brower Piven Commences An Investigation Into The Proposed Sale Of EverBank Financial Corp. And Encourages ...
August 09 2016 - 3:01PM
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 EverBank Financial Corp.
(NYSE: EVER) (“EverBank” or the “Company”) relating to the
proposed buyout of EverBank by Teachers Insurance and Annuity
Association of America.
Under the terms of the agreement, EverBank shareholders are
anticipated to receive $19.50 in cash for each share of EverBank
common stock held. The transaction may undervalue the Company
and would result in no real gain or a loss for many EverBank
shareholders, especially given that the Company’s 52-week high
is $21.18.
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. For example, according to Yahoo! Finance, at least one
Wall Street analyst has issued a price target for EverBank stock at
$22.00 per share.
If you currently own common stock of EverBank 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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Brower Piven, A Professional CorporationCharles J. Piven,
410-415-66161925 Old Valley RoadStevenson, Maryland
21153hoffman@browerpiven.com