Federman & Sherwood Announces Filing of Class Action Lawsuit Against the Board of Directors for DFC Global Corp. in Connectio...
02 Maio 2014 - 7:15PM
Marketwired
Federman & Sherwood Announces Filing of Class Action Lawsuit
Against the Board of Directors for DFC Global Corp. in Connection
With the Proposed Sale of the Company
OKLAHOMA CITY, OK--(Marketwired - May 2, 2014) - On April 8,
2014, a class action lawsuit was filed in the Delaware Court of
Chancery against the officers and directors of DFC Global Corp.
(NASDAQ: DLLR) (the "Company" or "DFC Global"), alleging that the
proposed sale of all of the Company's outstanding stock to Lone
Star Funds, and its affiliate, LSF8 Sterling Parent, LLC and LSF8
Sterling Merger Company ("Lone Star"), offers an unfair and
inadequate consideration to current shareholders of DFC Global. It
is also alleged that the controlling Merger Agreement contains
preclusive deal protection devices that are not considered
beneficial to DFC Global shareholders, but rather, would benefit
Lone Star.
Under the terms of the current buyout proposal, DFC Global
shareholders are to receive $9.50 in cash for each share of DFC
Global common stock they own. This represents only a 5.8% premium
over the closing price of $8.98 on April 1, 2014, the day before
the buyout was announced, and is significantly below the average
one day premium of nearly 24% for comparable transactions within
the past 3 years.
Federman & Sherwood would like to speak with any DFC Global
investors who question whether: (1) the information being provided
to DFC Global shareholders makes all necessary disclosures with
respect to the proposed sales transaction; (2) whether the proposed
sale to Lone Star offers true and adequate long-term value to DFC
Global shareholders; and, (3) whether DFC Global could have
received a higher per share price for its shareholders had the
officers and directors aggressively sought other purchasers for the
Company.
If you currently own common stock in DFC Global and purchased
your shares before April 2, 2014, please contact our office.
Federman & Sherwood has over 30 years of extensive nationwide
experience in representing investors in securities, derivative and
merger-related shareholder class actions, and has been appointed as
lead counsel in multiple complex cases across the country.
K. Lynn Nunn FEDERMAN & SHERWOOD 10205 North Pennsylvania
Avenue Oklahoma City, OK 73120 Email to: kln@federmanlaw.com Or,
visit the firm's website at www.federmanlaw.com
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