BALA CYNWYD, PA / ACCESSWIRE / December 7, 2020 / Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Anworth Mortgage Asset Corporation ("Anworth" or the "Company") (NYSE:ANH) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the agreement to be acquired by Ready Capital Corporation ("Ready Capital") (NYSE - RC). Under the terms of the agreement, Anworth shareholders will receive only 0.1688 shares of Ready Capital common stock and $0.61 in cash consideration. Based on Ready Capital's closing stock price on Friday, December 4, 2020, the implied offer price is $2.94 per share.
The investigation concerns whether the Anworth Board breached its fiduciary duties to shareholders by failing to conduct a fair process and whether Ready Capital is underpaying for the Company. For example, the merger consideration is well below the 52-week high of $3.80 for Anworth shares.
If you own shares of Anworth stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire, or Marc L. Ackerman, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 510, Bala Cynwyd, PA 19004, visit https://www.brodskysmith.com/cases/anworth-mortgage-asset-corporation-nyse-anh/, or call toll free 877-534-2590.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
SOURCE: Brodsky & Smith, LLC
View source version on accesswire.com: