SAN DIEGO, Dec. 5, 2017 /PRNewswire/ -- Shareholder
rights law firm Johnson Fistel, LLP has launched an investigation
into whether the board members of Regal Entertainment Group
("Regal") (NYSE: RGC) breached their fiduciary duties in connection
with the proposed sale of the Company to Cineworld Group PLC
("Cineworld"). Regal, together with its subsidiaries, operates as a
motion picture exhibitor in the United
States.
On December 4, 2017, Regal
announced that it had signed a definitive merger agreement with
Cineworld. Under the terms of the agreement, Cineworld will acquire
each share of Class A and Class B common stock of Regal in
exchange for $23.00 in cash.
The investigation concerns whether the Regal board failed to
satisfy its 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 Regal shares
of common stock. Nationally recognized Johnson Fistel is investigating whether the
proposed deal price represents adequate consideration, especially
given one Wall Street analyst has a $24.75 price target on the stock.
If you are a shareholder of Regal 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@johnsonfistel.com) at 619-814-4471. If emailing,
please include a phone number.
About Johnson Fistel, LLP:
Johnson Fistel, 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.johnsonfistel.com. Attorney advertising. Past results do
not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
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SOURCE Johnson Fistel, LLP