SAN DIEGO, Sept. 22, 2016
/PRNewswire/ -- Shareholder rights law firm Johnson &
Weaver, LLP has launched an investigation into whether the board
members of WCI Communities, Inc. (NYSE: WCIC) breached their
fiduciary duties in connection with the proposed sale of the
Company to Lennar Corporation (NYSE: LEN). WCI operates as a
lifestyle community developer and luxury homebuilder in
Florida.
On September 22, 2016, WCI
announced it had signed a definitive merger agreement with Lennar.
Under terms of the deal, Lennar will pay $23.50 in cash and stock for each WCI share.
WCI shareholders will be subject to the future volatility and
price fluctuation of Lennar's stock.
The investigation concerns whether the WCI board failed to
satisfy their duties to the Company shareholders, including whether
the board adequately pursued alternatives to the acquisition and
whether the board obtained the best price possible for WCI shares
of common stock. Nationally recognized Johnson & Weaver is
investigating whether the proposed deal price represents adequate
consideration. The 52-week high for WCI stock is
$25.00.
If you are a shareholder of WCI and believe the
proposed buyout price is too low or you're interested in learning
more about the investigation or your legal rights and remedies,
please contact lead analyst Jim
Baker (jimb@johnsonandweaver.com) at 619-814-4471. If
emailing, please include a phone number where you can be
reached.
About Johnson & Weaver, LLP:
Johnson &
Weaver, LLP is a nationally recognized shareholder rights law firm
with offices in California,
New York and Georgia. The firm represents individual and
institutional investors in shareholder derivative and securities
class action lawsuits. For more information about the firm and its
attorneys, please visit http://www.johnsonandweaver.com. Attorney
advertising. Past results do not guarantee future outcomes.
Contact:
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
jimb@johnsonandweaver.com
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SOURCE Johnson & Weaver, LLP