SHAREHOLDER ALERT: Brower Piven Launches An Investigation Into The Proposed Sale Of Paramount Gold & Silver Corp. And Encoura...
December 22 2014 - 5:27PM
Business Wire
The securities litigation law firm of Brower Piven, A
Professional Corporation, has commenced an investigation into
possible breaches of fiduciary duty and other violations of state
law by the Board of Directors of Paramount Gold and Silver Corp.
(“Paramount” or the “Company”) (NYSE: PZG) relating to the proposed
buyout of the Company by Coeur Mining, Inc. (“Coeur”).
On December 17, 2014 Paramount and Coeur announced the signing
of a merger agreement pursuant to which Coeur will acquire
Paramount in an all-stock transaction valued at approximately $146
million. Under the terms of the transaction, Paramount stockholders
are anticipated to receive 0.2016 Coeur shares for each share of
Paramount common stock they own. In addition, prior to the merger
close, Paramount will spin-off to its existing stockholders a
separate publicly traded company (“SpinCo”), which is expected to
apply for listing on the New York Stock Exchange or the Toronto
Stock Exchange. Paramount stockholders will receive a pro rata
share of the 95.1% of SpinCo shares to be distributed to Paramount
stockholders. The transaction is expected to close in the second
quarter of 2015, though Paramount shareholders will most likely be
asked to vote on the transaction well before that time.
The firm’s investigation seeks to determine, among other things,
whether the Company’s Board of Directors failed to satisfy their
duties to 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 currently own common stock of Paramount and would like to
learn more about the investigation being conducted by Brower Piven,
without cost or obligation to you, please visit our website at
http://www.browerpiven.com/currentinvestigations.html. You may also
request more information by contacting Brower Piven either by email
at hoffman@browerpiven.com or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in
litigating securities and other class action cases and have been
advocating for the rights of shareholders since the 1980s.
Brower Piven, A Professional CorporationCharles J. Piven,
410-415-66161925 Old Valley RoadStevenson, Maryland
21153hoffman@browerpiven.com
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