NEW YORK, Oct. 31, 2017 /PRNewswire/ -- WeissLaw LLP is
investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of CalAtlantic Group,
Inc. ("CAA" or the "Company") (NYSE: CAA) in connection with the
proposed acquisition of the Company by Lennar Corp. ("LEN") (NYSE:
LEN) in a transaction valued at approximately $9.3 billion. Under the terms of the
acquisition agreement, the Company's shareholders can elect to
exchange all or a portion of their shares for $48.26 in cash, or reserve the right to receive
0.885 of a share of LEN Class A common stock for each CAA share
they own, representing consideration of $49.27 based on LEN's October 30 closing price.
WeissLaw is investigating whether CAA's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, at least one analyst set a target price of $51.00. Moreover, upon closing,
shareholders of CAA will own a meager 26% of the combined
company.
Given these facts, WeissLaw is investigating whether CAA's
shareholders will obtain their fair and proportionate share of the
Company's continued success and future growth prospects. If
you own CAA shares and would like more information about your
rights or our investigation, or if you have information to share
with us, please contact Joshua
Rubin by telephone at (888) 593-4771 or by
email at stockinfo@weisslawllp.com.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com or fill out the form
on our
website, http://www.weisslawllp.com/calatlantic-group-inc/
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SOURCE WeissLaw LLP