STEVENSON, Md., June 17, 2015 /PRNewswire/ -- 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
The Ryland Group, Inc. ("Ryland" or the "Company") (NYSE: RYL)
relating to the proposed buyout of the Company by Standard Pacific
Corp.
Under the terms of the transaction, Ryland shareholders are
anticipated to receive 1.0191 shares of Standard Pacific common
stock for each share of Ryland common stock (which would be 5.0957
shares prior to giving effect to the announced 1 for 5 reverse
stock split). Upon closing of the transaction, Standard
Pacific stockholders will own approximately 59% and Ryland
shareholders will own approximately 41% of the combined
company.
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 Ryland and believe that the
proposed buyout price is too low, or you would like to learn more
about the investigation being conducted by Brower Piven, 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.
CONTACT:
Charles J. Piven
Brower Piven, A Professional Corporation
1925 Old Valley Road
Stevenson, Maryland 21153
Telephone: 410-415-6616
hoffman@browerpiven.com
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SOURCE Brower Piven, A Professional Corporation