SAN DIEGO, June 29, 2016 /PRNewswire/ -- Shareholder
rights law firm Johnson & Weaver, LLP has launched an
investigation into whether the board members of Diamond Resorts
International, Inc. (NYSE: DRII) breached their fiduciary duties in
connection with the proposed sale of the Company to Apollo Global
Management, LLC.
On June 29, 2016, Diamond Resorts
announced it had signed a definitive merger agreement with Apollo.
Under the terms of the agreement, Apollo will pay $30.25 per share in cash for each share of
Diamond Resorts common stock.
The investigation concerns whether the Diamond Resorts board
failed to satisfy their 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 Diamond Resorts shares of common stock. Nationally
recognized Johnson & Weaver is investigating whether the
proposed deal price represents adequate consideration; especially
given that the price target for one Wall Street analyst is
$35.00.
If you are a shareholder of Diamond Resorts 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@johnsonandweaver.com) at 619-814-4471. If
emailing, please include a phone number where you can be
reached.
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.
Contact:
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
jimb@johnsonandweaver.com
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SOURCE Johnson & Weaver, LLP