NEW YORK, Feb. 8, 2018 /PRNewswire/ -- WeissLaw LLP is
investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of 8point3 Energy
Partners LP ("CAFD" or the "Company") (NASDAQ: CAFD) in connection
with the proposed acquisition of the Company by an affiliate of
Capital Dynamics Inc. Under the terms of the agreement, the
Company's shareholders will receive $12.35 in cash, and an additional undisclosed
accrued cash distribution.
WeissLaw is investigating whether CAFD's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, the deal significantly undervalues the Company.
According to an analyst at Raymond James Financial Inc., this
is a disappointing deal with very low "odds of a competing proposal
emerging." Further, when commenting about the acquisition,
another analyst at JMP Securities LLC did not express much
confidence, stating that "[i]t may not appear that they maximized
the value of the [C]ompany."
Moreover, following the acquisition announcement, CAFD shares
traded for as low as $11.77, a drop
of nearly 20% from the Company's February
2 trading price of $14.55.
Given these facts, WeissLaw is investigating whether CAFD's
Board acted in the best interests of CAFD's public shareholders to
maximize shareholder value prior to entering into the
agreement. If you own CAFD shares and would like more
information about your rights or our investigation, or if you have
information to share with us, please contact Joshua Rubin by telephone at
(888) 593-4771 or by email at
stockinfo@weisslawllp.com.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com or fill out the form
on our website,
http://www.weisslawllp.com/8point3-energy-partners-lp/
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SOURCE WeissLaw LLP