FGL SHAREHOLDER ALERT: Johnson & Weaver, LLP Launches an Investigation into the Proposed Sale of Fidelity & Guaranty Life & E...
November 09 2015 - 8:58AM
Business Wire
Shareholder rights law firm Johnson & Weaver, LLP has
launched an investigation into whether the board members of
Fidelity & Guaranty Life (NYSE: FGL) breached their fiduciary
duties in connection with the proposed sale of the Company to
Anbang Insurance Group Co., Ltd.
Additional Information:
FGL offers fixed indexed annuity and life insurance products
distributed by independent agents through an established network of
independent marketing organizations.
On November 9, 2015, FGL announced it had signed a definitive
merger agreement with Anbang. Under the terms of the transaction,
Anbang will acquire FGL for $26.80 per share in cash.
The investigation concerns whether FGL’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. Nationally recognized Johnson
& Weaver, which focuses its practice on shareholder rights, is
investigating whether the proposed deal price represents adequate
consideration, especially given FGL's promise of future earnings
growth. Moreover, one Wall Street analyst has a $30.00 price target
on the stock which is more than the $26.80 offer price.
If you are a shareholder of FGL 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.
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version on businesswire.com: http://www.businesswire.com/news/home/20151109005962/en/
Johnson & Weaver, LLPJim Baker,
619-814-4471jimb@johnsonandweaver.com
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