PARAMOUNT ALERT: Proposed Sale of Paramount Gold & Silver Corp. Being Investigated by Shareholder Rights Law Firm Johnson & W...
December 17 2014 - 8:58AM
Business Wire
Shareholder rights law firm Johnson & Weaver, LLP has
launched an investigation into whether the board members of
Paramount Gold and Silver Corp. (NYSE: PZG), breached their
fiduciary duties in connection with the proposed sale of the
company to Coeur Mining, Inc.
Additional Information:
Paramount Gold and Silver Corp., an exploration stage company,
acquires, explores, and develops gold, silver, and precious metal
properties.
On December 16, 2014, Paramount and Coeur Mining entered into an
agreement whereby Coeur Mining will acquire Paramount. Under the
terms of the transaction, Paramount stockholders will receive:
0.2016 Coeur shares per Paramount share, a $0.90 implied value.
Prior to the merger close Paramount will spin off its non-Mexican
assets and liabilities to a newly formed Company, (“SpinCo”), which
is expected to apply for listing on the NYSE MKT or the Toronto
Stock Exchange. Paramount stockholders will receive a pro rata
share of the 95.1% of SpinCo shares. Coeur will provide $10 million
in cash to SpinCo and receive a 4.9% common share interest.
The investigation concerns whether Paramount’s board
failed to satisfy their duties to the company’s shareholders,
including whether the board adequately pursued alternatives to the
acquisition and whether the board obtained the best price possible
for the Company’s shares of common stock.
If you are a shareholder of Paramount and believe (1) the
proposed buyout price is too low and (2) 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.
Johnson & Weaver, LLPJim Baker,
619-814-4471jimb@johnsonandweaver.com
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