SAN DIEGO & CARLSBAD, Calif.–(BUSINESS WIRE)–lt;a href=”https://twitter.com/search?q=%24HOFD&src=ctag” target=”_blank”gt;$HOFDlt;/agt; lt;a href=”https://twitter.com/hashtag/ClassAction?src=hash” target=”_blank”gt;#ClassActionlt;/agt;–Shareholder rights attorneys at Robbins Arroyo LLP are investigating
the proposed acquisition of HomeFed Corporation (OTC: HOFD) by Jefferies
Financial Group Inc. (NYSE: JEF). On April 15, 2019, the two companies
announced the signing of a definitive merger agreement pursuant to which
Jefferies will acquire the 30% of HomeFed’s common stock that it does
not already own. On May 2, 2019, the terms of the agreement were
modified; under the terms of the modified agreement, HomeFed
shareholders will receive two shares of Jefferies common stock for each
share of HomeFed common stock. This represented a cash equivalent value
of $42.04 as of Jefferies’ closing price on February 19, 2019, the day
the acquisition was proposed, and currently represents a cash equivalent
value of $39.84 as of Jefferies’ closing price on May 7, 2019.
View this information on the law firm’s Shareholder Rights Blog: https://www.robbinsarroyo.com/homefed-corporation/
Is the Proposed Acquisition Best for HomeFed and Its Shareholders?
Robbins Arroyo LLP’s investigation focuses on whether the board of
directors at HomeFed is undertaking a fair process to obtain maximum
value and adequately compensate its shareholders.
In the last three years, HomeFed traded as high as $58.75 on March 29,
2018, and traded well above the current consideration value – at $50.00
– as recently as November 1, 2018.
In light of these facts, Robbins Arroyo LLP is examining HomeFed’s board
of directors’ decision to sell the company now rather than allow
shareholders to continue to participate in the company’s continued
success and future growth prospects.
HomeFed shareholders have the option to file a class action lawsuit to
ensure the board of directors obtains the best possible price for
shareholders and the disclosure of material information. HomeFed
shareholders interested in information about their rights and potential
remedies can contact attorney Leo Kandinov at (800) 350-6003, [email protected],
or via the shareholder
information form on the firm’s website.
Robbins Arroyo LLP is a nationally recognized leader in securities
litigation and shareholder rights law. The law firm represents
individual and institutional investors in shareholder derivative and
securities class action lawsuits, and has helped its clients realize
more than $1 billion of value for themselves and the companies in which
they have invested.
Attorney Advertising. Past results do not guarantee a similar outcome.
Contacts
Leo Kandinov
Robbins Arroyo LLP
5040 Shoreham Place
San
Diego, CA 92122
[email protected]
(619)
525-3990 or Toll Free (800) 350-6003
www.robbinsarroyo.com
