WeissLaw is investigating whether NEWS’s Board acted to maximize shareholder value prior to entering into the agreement. Notably, at least one analyst set a target price of $14.00, nearly $2.00 above the per-share consideration at the low end. Additionally, on October 12, 2017, less than a week prior to the acquisition announcement, NEWS shares traded for $12.51. Finally, the per-share consideration offers virtually no premium over the Company’s October 16 trading price of $12.22.
Given these facts, WeissLaw is investigating whether NEWS Board acted in the best interests of NEWS’s public shareholders to maximize shareholder value prior to entering into the agreement. If you own NEWS 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 [email protected].
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 [email protected] or fill out the form on our website, http://www.weisslawllp.com/newstar-financial-inc/.
SOURCE WeissLaw LLP
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