An investigation on behalf of investors of PHH Corporation (NYSE:PHH) in connection with the proposed takeover was announced and NYSE:PHH stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 03/05/2018 -- The takeover of PHH Corporation is under investigation over possible wrongdoing.
Investors who purchased shares of PHH Corporation (NYSE:PHH) and currently hold any of those NYSE:PHH shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of PHH Corporation breached their fiduciary duties owed to NYSE:PHH investors in connection with the proposed acquisition.
On February 27, 2018 , PHH Corporation (NYSE: PHH) announced that it has entered into an agreement in which Ocwen Financial Corporation (NYSE: OCN) will acquire all of the Company's outstanding shares of common stock in an all cash transaction valued at $360 million, or $11.00per fully-diluted share.
However, given that NYSE:PHH shares reached as high as $27.59 per share in 2015, the investigation concerns whether the offer is unfair to NYSE:PHH stockholders. More specifically, the investigation concerns whether the PHH 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.
On March 2, 2018, NYSE:PHH shares closed at $10.62 per share.
Those who are current investors in PHH Corporation (NYSE:PHH) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego