SAN DIEGO, Dec. 9, 2016 /PRNewswire/ -- Shareholder rights
law firm Johnson & Weaver, LLP has launched an investigation
into whether the board members of Stillwater Mining Company (NYSE:
SWC) breached their fiduciary duties in connection with the
proposed sale of the Company to Sibanye Gold Limited. Stillwater
Mining engages in the development, extraction, processing, smelting
and refining of platinum group metals (PGMs).
On December 9, 2016, Stillwater
Mining announced it had signed a definitive merger agreement with
Sibanye. Under the terms of the agreement, Sibanye will acquire all
of the outstanding shares of Stillwater Mining common stock for
$18.00 per share in cash.
The investigation concerns whether the Stillwater Mining 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 Stillwater Mining shares of common stock. Given the
Company's outlook for future revenue and earnings growth,
nationally recognized Johnson & Weaver is investigating whether
the proposed deal price represents adequate consideration;
moreover, one Wall Street analyst has a $21.00 price target.
If you are a shareholder of Stillwater Mining and believe the
proposed buyout price is too low and 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.
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