NEW YORK, Feb. 20, 2019 (GLOBE NEWSWIRE) -- The following statement is being issued by Levi & Korsinsky, LLP:
To: All Persons or Entities who purchased Owens Realty Mortgage, Inc. (“Owens Realty” or the “Company”) (NYSE American: ORM) stock prior to November 7, 2018.
You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Owens Realty to Ready Capital Corporation (RC). Under the terms of the transaction, Owens Realty shareholders will receive 1.441 Ready Capital shares for each share of Owens Realty stock they own, based on a fixed exchange ratio subject to adjustments if the Company’s book value per share declines by more than three percent. Based on the closing price of Ready Capital stock on November 7, 2018, this represents a value of approximately $21.53 per share. To learn more about the action and your rights, go to:
or contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.
The Owens Realty merger investigation concerns whether the Board of Owens Realty breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Ready Capital is underpaying for Owens Realty shares, thus unlawfully harming Owens Realty shareholders.
Levi & Korsinsky is a national firm with offices in New York, Connecticut, California, and Washington D.C. The firm's attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities lawsuits and have recovered hundreds of millions of dollars for aggrieved shareholders. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171