An investigation on behalf of investors of Diamond Resorts International Inc (NYSE:DRII) in connection with the proposed takeover was announced and NYSE:DRII stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 07/05/2016 -- An investigation for investors, who currently hold shares of Diamond Resorts International Inc, was announced concerning the takeover of Diamond Resorts International Inc by affiliates of certain funds managed by affiliates of Apollo Global Management, LLC at $30.25 per share.
Investors who purchased shares of Diamond Resorts International Inc (NYSE:DRII) and currently hold any of those NYSE:DRII shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The investigation by a law firm concerns whether certain Diamond Resorts International directors breached their fiduciary duties owed to NYSE:DRII investors in connection with the proposed acquisition.
On June 29, 2016, Diamond Resorts International Inc (NYSE:DRII) announced that it has entered into an Agreement and Plan of Merger with affiliates of certain funds managed by affiliates of Apollo Global Management, LLC pursuant to which those Funds will acquire Diamond Resorts International Inc (NYSE:DRII) for $30.25 per share or approximately $2.2 billion.
However, given that at least one analyst has set its high target price at $35.00 per share and given that NYSE:DRII shares traded in 2015 as high as $34.65 per share, the investigation concerns whether the offer is unfair to NYSE:DRII stockholders. More specifically, the investigation concerns whether the Diamond Resorts Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
Diamond Resorts International Inc reported that its annual Total Revenue rose from $844.57 million in 2104 to $954.04 million in 2015 and that its Net Income increased from $59.46 million in 2014 to $149.48 million in 2015.
On July 1, 2016, NYSE:DRII shares closed at $29.96 per share.
Those who are current investors in Diamond Resorts International Inc shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com