An investigation on behalf of investors of Dominion Diamond Corp (NYSE:DDC) in connection with the proposed takeover was announced.
San Diego, CA -- (SBWIRE) -- 08/07/2017 -- An investigation was announced for investors, who currently hold shares of Dominion Diamond Corp (NYSE:DDC), was announced concerning the takeover of Dominion Diamond Corp. by an entity affiliated with Washington Companies for $14.25 per share.
Investors who purchased shares of Dominion Diamond Corp (NYSE:DDC) should contact the Shareholders Foundation at firstname.lastname@example.org or call 858-779-1554.
The investigation by a law firm concerns whether certain officers and directors of Dominion Diamond Corp breached their fiduciary duties owed to NYSE:DDC investors in connection with the proposed acquisition.
On Jul. 17, 2017, Dominion Diamond Corp (NYSE:DDC) and The Washington Companies, a group of privately held North American mining, industrial and transportation businesses founded by industrialist and entrepreneur Dennis R. Washington, announced that they have entered into an arrangement agreement under which an entity affiliated with Washington will acquire all of Dominion's outstanding common shares for US$14.25 per share in cash or a total equity value of approximately US$1.2 billion pursuant to a plan of arrangement (the "Arrangement") under the Canada Business Corporations Act.
However, given that at least one analyst has set the high target price for NYSE:DDC shares at $18.00 per share, the investigation concerns whether the offer is unfair to NYSE:DDC stockholders. More specifically, the investigation concerns whether the Dominion Diamond 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.
Shares of Dominion Diamond Corp (NYSE:DDC) closed on August 4, 2017 at $14.12 per share.
Those who are current investors in Dominion Diamond Corp shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego