San Diego, CA -- (SBWire) -- 11/22/2016 --An investigation for investors in shares of WCI Communities Inc (NYSE:WCIC), was announced over the acquisition of Bonita Springs, FL based WCI Communities Inc by Lennar Corporation for $25.95 per share.
Investors who purchased shares of WCI Communities Inc (NYSE:WCIC) and currently hold any of those NYSE:WCIC 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 WCI Communities directors breached their fiduciary duties owed to NYSE:WCIC investors in connection with the proposed acquisition.
On September 22, 2016, WCI Communities Inc announced the signing of a merger agreement under which Lennar Corporation has agreed to acquire all of the outstanding shares of WCI Communities Inc (NYSE:WCIC) common stock in a cash and stock transaction valued at $23.50 per NYSE:WCIC share.
However, given that at least one analyst has set the high target price for NYSE:WCIC shares at $25.00 per share and given that NYSE:WCIC shares reached as high as $25.95 per share in September 2015, the investigation concerns whether the WCI Communities 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.
WCI Communities Inc reported that its annual Total Revenue rose from $407 million in 2014 to $563.62 million in 2015 and that its Net Income grew from $21.60 million to $35.40 million.
On November 21, 2016 NYSE:WCIC shares closed at $23.30 per share.
Those who are current investors in WCI Communities 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
Attention Investors Who Hold Shares of WCI Communities Inc (NYSE:WCIC) Should Contact the Shareholders Foundation
An investigation on behalf of investors of WCI Communities Inc (NYSE:WCIC) in connection with the proposed takeover was announced and NYSE:WCIC stockholders should contact the Shareholders Foundation.