NEW YORK, May 24, 2017 /PRNewswire/ -- The proposed
acquisition of Fidelity & Guaranty Life ("FGL" or the
"Company") by CF Corporation ("CFCO") is the subject of an
examination by WeissLaw LLP, a national class action, shareholders
rights law firm. On May 24,
2017, FGL and CFCO jointly announced the acquisition of the
Company by CFCO. Under the terms of the agreement, the
Company's shareholders will receive $31.10 in cash for each FGL share they own.
WeissLaw is investigating whether FGL's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, the offer price represents a meagre 8.4% premium over
FGL's May 23 closing price of
$28.70. Additionally, in its
latest financial release the Company reported robust results.
It announced average assets under management increased to
$20 billion in the second quarter of
2017, up 9% from the previous year. FGL also saw double-digit
growth in net income, from $9 million
in the second quarter of 2016 to $22
million in the following year, representing an impressive
$13 million year-over-year
increase.
Given these facts, WeissLaw is investigating whether FGL's Board
acted in the best interests of FGL's public shareholders to
maximize shareholder value prior to entering into the
agreement. If you own FGL 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/fidelity-and-guaranty-life/
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SOURCE WeissLaw LLP