A lawsuit was filed for investors in shares of HFF, Inc. (NYSE: HF) in connection with the proposed takeover and NYSE: HF stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 05/24/2019 -- The Shareholders Foundation announced that an investor, who currently holds shares of HFF, Inc. (NYSE: HF), filed a lawsuit against the takeover of HFF, Inc.
Investors who purchased shares of HFF, Inc. (NYSE: HF) and currently hold any of those NYSE: HF shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE: HF stockholders by agreeing to sell HFF, Inc. cheaply via an unfair process.
Dallas, TX based HFF, Inc. provides commercial real estate and capital market services to the consumers and providers of capital in the commercial real estate industry in the United States. On March 19, 2019, Jones Lang LaSalle Incorporated (NYSE: JLL) and HFF, Inc. (NYSE: HF) announced that they have entered into an agreement under which Jones Lang LaSalle Incorporated will acquire all the outstanding shares of HFF, Inc in a cash and stock transaction with an equity value of approximately $2 billion. Under the terms of the agreement, HFF, Inc shareholders will receive $24.63 in cash and 0.1505 Jones Lang LaSalle Incorporated shares for each HFF share. Based on the closing price of Jones Lang LaSalle Incorporated stock of $163.02 on March 18, 2019, the cash and stock consideration to be received by HFF, Inc shareholders at closing is valued at $49.16 per HFF share.
However, plaintiff claims that the proposed consideration NYSE: HF shareholders will receive is grossly inadequate and undervalues HFF, Inc. HFF, Inc. reported that its annual Total Revenue rose from $590.85 million in 2017 to $662.02 million in 2018 and that its Net Income increased from $94.96 million in 2017 to $115.98 million in 2018. In addition, the plaintiff alleges that the process is also unfair NYSE: HF stockholders.
Those who are current investors in HFF, Inc. (NYSE: HF) shares have certain options and should contact the Shareholders Foundation.
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The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.