BUYOUT OF CREXUS - LAW FIRM SEEKS MORE MONEY FOR SHAREHOLDERS
November 12, 2012
New York, New York -- Tripp Levy PLLC, a leading national securities law firm, is investigating the proposed acquisition of Crexus. Annaly Capital Management Inc said it will buy the remaining shares of CreXus Investment Corp, valuing the company at $958 million. Annaly will pay $12.50 per share.
The investigation concerns whether the board of directors of Crexus is breaching its fiduciary duties by not engaging in a full and fair auction of the company while, at the same time, obtaining personal monetary benefits to sell the company at this price. Indeed, the book value alone of Crexus is almost $12 per share.
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Tripp Levy is a national law firm and has recovered millions for shareholders around the globe