Shareholders Foundation, Inc.

Lawsuit for Investors Against Buyout of EverBank Financial Corp (NYSE:EVER) Filed

A lawsuit was filed for investors in shares of EverBank Financial Corp (NYSE:EVER) in connection with the proposed takeover was announced and NYSE:EVER stockholders should contact the Shareholders Foundation.


San Diego, CA -- (SBWIRE) -- 10/03/2016 -- The Shareholders Foundation announced that an investor who currently holds shares of EverBank Financial Corp (NYSE:EVER), filed a lawsuit in effort to halt the proposed takeover of EverBank Financial Corp. by TIAA for $19.50 per share.

Investors who purchased shares of EverBank Financial Corp (NYSE:EVER) and currently hold any of those NYSE:EVER shares have certain options and should contact the Shareholders Foundation at or call 858-779-1554.

The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE:EVER stockholders by agreeing to sell EverBank Financial too cheaply via an unfair process to TIAA.

On August 08, 2016 TIAA announced an agreement to acquire EverBank Financial Corp (NYSE:EVER). Under the terms of the agreement, EverBank Financial Corp (NYSE:EVER) stockholders will receive $19.50 per share in cash, or an approximate total of $2.5 billion.

However, plaintiff claims that the proposed consideration NYSE:EVER shareholders will receive is grossly inadequate and undervalues EverBank Financial Corp. Indeed, at least one analyst has set the high target price for NYSE:EVER shares at $21.00 per share and given that NYSE:EVER shares traded in October 2015 as high as $21.08 per share.

In addition, the plaintiff alleges that the process is also unfair to NYSE:EVER stockholder. Indeed, certain stockholders, directors and executive officers of EverBank with the power to vote approximately 22% of EverBank's outstanding common stock have already entered into voting and support agreements with TIAA to vote in favor of, and otherwise support, the transaction.

On September 30, 2016, NYSE:EVER shares closed at $19.36 per share.

Those who are current investors in EverBank Financial Corp shares have certain options and should contact the Shareholders Foundation.

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