An investigation on behalf of investors of China Housing & Land Development, Inc. (NASDAQ:CHLN) in connection with the proposed takeover was announced and NASDAQ:CHLN stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 09/03/2014 -- An investigation on behalf of investors, who currently hold shares of China Housing & Land Development, Inc. (NASDAQ:CHLN), was announced concerning whether the takeover of China Housing & Land Development, Inc. is unfair to NASDAQ:CHLN stockholders.
Investors who purchased shares of China Housing & Land Development, Inc. (NASDAQ:CHLN) and currently hold any of those NASDAQ:CHLN shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of China Housing & Land Development, Inc. breached their fiduciary duties owed to NASDAQ:CHLN investors in connection with the proposed acquisition.
Under the terms of the transaction, China Housing & Land Development, Inc will commence a reserve stock split where every 50,000 shares of publicly traded common stock will be converted into a whole share of China Housing & Land Development, Inc stock. China Housing & Land Development, Inc will make a cash payment equal to $1.75 for each pre-reverse stock split share.
However, the investigation concerns whether the offer is unfair to NASDAQ:CHLN stockholders. More specifically, the investigation concerns whether the China Housing & Land Development 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.
China Housing & Land Development, Inc. reported that annual Total Revenue rose from $149.46 million in 2012 to $190.03 million in 2013 and that its Net Income declined from $20.21 million to $11.75 million. Shares of China Housing & Land Development, Inc. (NASDAQ:CHLN) traded in 2013 as high as $3.03 per share.
On August 29, 2014, NASDAQ:CHLN shares closed at $1.67 per share.
Those who are current investors in China Housing & Land Development, Inc. (NASDAQ:CHLN) 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