Ryland Group, Inc. Shareholder Alert: Former SEC Attorney Willie Briscoe & Powers Taylor LLP Investigate Merger with Standard...
17 June 2015 - 2:10AM
Business Wire
Former United States Securities and Exchange Commission attorney
Willie Briscoe and the securities litigation firm of Powers Taylor
LLP are investigating potential claims against the Board of
Directors of Ryland Group, Inc. (“Ryland”) (NYSE: RYL) concerning
the merger with Standard Pacific Corp. (NYSE: SPF). Under the terms
of the agreement, valued at approximately $1 billion, Ryland
shareholders will receive 1.0191 shares of Standard common stock
for each share of Ryland common stock (which would be 5.0957 shares
prior to giving effect to the Standard Pacific reverse stock
split). Based on SPF’s closing price before the announcement, the
consideration is valued at approximately $42.60, which is
significantly lower than the 52-week high of $49.66 and at least
one analyst’s estimated value of $55.00 for Ryland.
If you are an affected investor, and you want to learn more
about the investigation or if you have information that you believe
would be helpful to our investigation of the fairness of the
proposed transaction, contact Willie Briscoe at The Briscoe Law
Firm, PLLC via email at shareholders@thebriscoelawfirm.com, Patrick
Powers at Powers Taylor LLP via e-mail at
shareholder@powerstaylor.com or by calling toll free at (877)
728-9607. There is no cost or fee to you.
The investigation centers on whether Ryland’s Board of Directors
is acting in the shareholders’ best interests, whether the board is
properly negotiating a higher share price for the shareholders, and
whether the board has employed an adequate process to review and
act on the proposed transaction. Notably, at least one analyst with
Yahoo! Finance believes the true inherent value of the stock could
be as high as $55.00.
The Briscoe Law Firm, PLLC is a full service business litigation
and shareholder rights advocacy firm with more than 20 years of
experience in complex litigation and transactional matters.
Powers Taylor LLP is a boutique litigation law firm that handles
a variety of complex business litigation matters, including claims
of investor and stockholder fraud, shareholder oppression,
shareholder derivative suits, and security class actions.
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version on businesswire.com: http://www.businesswire.com/news/home/20150616006355/en/
The Briscoe Law Firm, PLLCWillie Briscoe,
877-728-9607shareholders@thebriscoelawfirm.comorPowers Taylor
LLPPatrick Powers, 877-728-9607shareholder@powerstaylor.com
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