SAN DIEGO, Jan. 16, 2019 /PRNewswire/ -- Shareholder rights
law firm Johnson Fistel, LLP has launched an investigation into
whether the board members of First Data Corporation (NYSE:
FDC) ("First Data") breached their fiduciary duties in connection
with the proposed sale of the Company to Fiserv, Inc. (NASDAQ:
FISV) ("Fiserv").
On January 16, 2019, First Data
announced that it had signed a definitive merger agreement with
Fiserv. Under the terms of the agreement, First Data shareholders
will receive a fixed exchange ratio of 0.303 Fiserv shares for each
share of First Data common stock they own. This represents
$22.74 based on closing prices as of
January 15. However, shareholders
will be subject to the future price fluctuation of Fiserv 's stock
price.
The investigation concerns whether the First Data 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 First Data shares of common stock. Nationally recognized
Johnson Fistel is investigating
whether the proposed deal represents adequate consideration,
especially given that one Wall Street analyst has a $35.00 price target on the stock, The 52-week
high for First Data was $26.62.
If you are a shareholder of First Data 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.
Additionally, you can [Click here to join this action].
There is no cost or obligation to you.
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
https://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