SAN DIEGO, April 11, 2016 /PRNewswire/ -- Shareholder rights
law firm Johnson & Weaver, LLP has launched an investigation
into whether the board members of Hatteras Financial Corp. (NYSE:
HTS) breached their fiduciary duties in connection with the
proposed sale of the Company to Annaly Capital Management, Inc.
(NYSE: NLY).
Additional Information:
Hatteras operates as an externally-managed mortgage real estate
investment trust (REIT) in the United
States.
On April 11, 2016, Hatteras
announced it had signed a definitive merger agreement with Annaly.
Under the terms of the agreement, Hatteras shareholders may elect
to receive: (a) $5.55 in cash and
0.9894 shares of Annaly common stock; (b) $15.85 in cash; or (c) 1.5226 shares of Annaly
common stock. Hatteras shareholders who elect the Cash
Consideration Option or Stock Consideration Option will be subject
to proration, in each of the exchange offer and the subsequent
second step merger, so that the aggregate consideration will
consist of approximately 65% of Annaly's common stock and
approximately 35% in cash.
The investigation concerns whether the Hatteras board failed to
satisfy their duties to the Company shareholders, including whether
the board adequately pursued alternatives to the acquisition and
whether the board obtained the best price possible for the shares
of Hatteras common stock. Nationally recognized Johnson &
Weaver is investigating whether the proposed deal price represents
adequate consideration, especially given one Wall Street analyst
has a $20.00 price target on the
stock. Hatteras 52 week high was $18.82.
If you are a shareholder of Hatteras and believe the proposed
buyout price is too low or you're interested in learning more about
the investigation or your legal rights and remedies, please contact
lead analyst Jim Baker
(jimb@johnsonandweaver.com) at 619-814-4471. If emailing, please
include a phone number where you can be reached.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder
rights law firm with offices in California, New
York and Georgia. The firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits. For more
information about the firm and its attorneys, please visit
http://www.johnsonandweaver.com. Attorney advertising. Past results
do not guarantee future outcomes.
Contact:
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
jimb@johnsonandweaver.com
Logo - http://photos.prnewswire.com/prnh/20160211/332409LOGO
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/hatteras-shareholder-alert-hts-johnson--weaver-llp-launches-an-investigation-into-the-fairness-of-price-and-process-in-proposed-sale-of-hatteras-are-shareholders-getting-a-fair-price-300249082.html
SOURCE Johnson & Weaver, LLP