NEW YORK, March 24, 2020 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Pope Resources, A Delaware Limited Partnership ("POPE") (NASDAQ: POPE) in connection with the proposed acquisition of POPE by Rayonier Inc. ("RYN") (NYSE: RYN). Under the terms of the acquisition agreement, POPE unitholders can elect to receive either: (i) $125 in cash, (ii) 3.29 shares of RYN common stock, or (iii) 3.929 units of Rayonier Operating Partnership LP for each share of POPE they own, subject to a proration mechanism which will adjust and prorate the cash and equity portions of the merger consideration to ensure that each POPE unitholder will receive compensation equal to amounts as if every POPE unit received 2.751 Rayonier common shares or Rayonier operating partnership units and $37.50 in cash. In accordance with the proration mechanism, the current value of the per-unit merger consideration for POPE unitholders is approximately $90.17 based upon RYN's March 23, 2020 closing price of $19.09.
If you own POPE shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
Or please contact:
Joshua Rubin, Esq.
1500 Broadway, 16th Floor
New York, NY 10036
WeissLaw is investigating whether (i) POPE's board of directors (the "Board") acted independently given POPE's long history with RYN and numerous entanglements at the Board and executive level, (ii) the Board's special litigation committee ("Special Committee") was truly independent, ran a fair process, maximized unitholder value and otherwise acted in the best interests of POPE unitholders, (iii) the proposed acquisition undervalues POPE, and (iv) all material information related to the proposed acquisition is fully and fairly disclosed to permit a fully-informed unitholder vote.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at firstname.lastname@example.org
View original content to download multimedia:http://www.prnewswire.com/news-releases/shareholder-alert-weisslaw-llp-investigates-pope-resources-a-delaware-limited-partnership-301029293.html
SOURCE WeissLaw LLP