An investigation on behalf of investors 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) -- 08/17/2016 -- The takeover of EverBank Financial Corp is under investigation over potential wrongdoing. The investigation was announced on behalf of investors, who currently hold shares of EverBank Financial Corp (NYSE:EVER), concerning whether the takeover of EverBank Financial Corp. by TIAA for $19.50 per share is unfair.
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 firstname.lastname@example.org or call 858-779-1554.
The investigation by a law firm concerns whether certain officers and directors of EverBank Financial Corp breached their fiduciary duties owed to NYSE:EVER investors in connection with the proposed acquisition.
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, given that 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, the investigation concerns whether the offer is unfair to NYSE:EVER stockholders. In addition, given that 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, the investigation concerns whether the EverBank Financial 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 August 16, 2016, NYSE:EVER shares closed at $19.13 per share.
Those who are current investors in EverBank Financial Corp shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego