SAN DIEGO, June 18, 2018 /PRNewswire/ -- Shareholder
rights law firm Johnson Fistel, LLP has launched an investigation
into whether the board members of Nationstar Mortgage Holdings Inc.
(NYSE: NSM) ("Nationstar") breached their fiduciary duties in
connection with the proposed sale of the Company to WMIH Corp.
(NASDAQ: WMIH) ("WMIH").
On February 13, 2018, Nationstar
announced that it had signed a definitive merger agreement with
WMIH. Under the terms of the agreement, Nationstar shareholders may
elect to receive $18.00 in cash or
12.7793 shares of WMIH common stock for each share of Nationstar
common stock they own, subject to an overall proration to ensure
that 32% of the total outstanding Nationstar shares are exchanged
for the stock consideration. Upon completion of the transaction,
Nationstar shareholders will own approximately 36% of the combined
company, and WMIH shareholders will own approximately 64%.
The investigation concerns whether the Nationstar board failed
to satisfy its 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 Nationstar shares of common stock. Nationally recognized
Johnson Fistel is investigating
whether the proposed deal represents adequate consideration,
especially given the Company's projected revenue and earnings
growth and one Wall Street analyst has a $23.00 price target on the stock. The
52-week high for Nationstar was $20.71.
A shareholder vote has been set for June 29, 2018, if you are a shareholder
of Nationstar 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@johnsonfistel.com)
at 619-814-4471. If emailing, please include a phone
number.
About Johnson Fistel,
LLP:
Johnson Fistel, 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.johnsonfistel.com. Attorney advertising. Past results do
not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
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SOURCE Johnson Fistel, LLP