BUYOUT OF WHITE RIVER - LAW FIRM SEEKS MORE MONEY FOR SHAREHOLDERS
NEW YORK--(BUSINESS WIRE)--
Tripp Levy PLLC, a leading national securities law firm, is investigating the Board of Directors of White River Capital, Inc. (“White River” or the “Company”) (NYSE MKT: RVR) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company and its subsidiary, Coastal Credit, LLC, to an affiliate of Parthenon Capital Partners.
Under the terms of the transaction, White River shareholders will receive $21.93 for each share of White River stock they own. The transaction has a total approximate value of $79.5 million. The investigation concerns whether the White River Board of Directors breached their fiduciary duties to stockholders by failing to adequately shop the Company before entering into this transaction and whether Parthenon Capital Partners is underpaying for White River shares, thus unlawfully harming White River stockholders. In particular, White River stock has traded as high as $23.00 per share as recently as October 17, 2012.
If you own common stock in White River and wish to obtain additional information, please contact us toll free at 877-772-3975 or email us at contact @ tripplevy
Tripp Levy PLLC is a national law and has recovered millions for shareholders around the globe