NEW YORK, Feb. 21, 2017 /PRNewswire/ -- WeissLaw LLP is
investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of Fortress Investment
Group LLC (NYSE: FIG) ("FIG" or the "Company") in connection with
the proposed acquisition of the Company by SoftBank Group Corp.
("SoftBank") for $3.3 billion.
Under the terms of the agreement, the Company's shareholders
will receive $8.08 in cash for each
FIG share they own.
WeissLaw is investigating whether FIG's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, the Company recently announced positive financial
results. It reported revenues of $261
million in the third quarter of 2016, representing an
increase of $29 million or 12.5% when
compared to the $232 million reported
in the previous period. Additionally, the transaction is a
strategic acquisition that heavily favors SoftBank and at the
expense of FIG and its shareholders. According to the
Wall Street Journal, "[t]he deal will make SoftBank one of
the biggest alternative asset managers in the world. . . gain[ing]
a global network of investors that could help it find and structure
deals," which will ultimately accelerate growth.
Given these facts, WeissLaw is investigating whether FIG's Board
acted in the best interests of FIG's public shareholders to
maximize shareholder value prior to entering into the
agreement. If you own FIG shares and would like more
information about your rights or our investigation, or if you have
information to share with us, please contact Joshua Rubin by telephone at
(888) 593-4771 or by email at
stockinfo@weisslawllp.com.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com or fill out the form
on our website,
http://www.weisslawllp.com/fortress-investment-group-llc/
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SOURCE WeissLaw LLP