A lawsuit was filed for investors in shares of Care Capital Properties Inc (NYSE:CCP) in connection with the proposed takeover and NYSE:CCP stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 08/10/2017 -- The Shareholders Foundation announces that an investor, who currently holds NYSE:CCP shares, filed a lawsuit against the proposed takeover of Care Capital Properties Inc by Sabra Health Care REIT, Inc.
On May 7, 2017, Sabra Health Care REIT, Inc. and Care Capital Properties, Inc. (NYSE:CCP) announced that they have entered into an agreement pursuant to which the two companies will combine in an all-stock merger to create a premier healthcare REIT.
Investors who purchased shares of Care Capital Properties Inc (NYSE:CCP) and currently hold any of those NYSE:CCP shares have certain options and should contact the Shareholders Foundation at email@example.com or call 858-779-1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE:CCP stockholders by agreeing to sell Care Capital Properties cheaply via an unfair process to Sabra Health Care REIT, Inc.
Under the terms of the agreement, CCP shareholders will receive 1.123 shares of Sabra common stock for each share of CCP common stock they own. Based on a closing price of $26.68 per NASDAQ:SBRA shares investors in Care Capital Properties Inc (NYSE:CCP) will receive a value of approximately $29.96 per NYSE:CCP share.
However, plaintiff claims that the proposed consideration NYSE:CCP shareholders will receive with Sabra Health Care REIT's offer is grossly inadequate and undervalues Care Capital Properties, Inc. Indeed, at least one analyst has set the high target price for NYSE:CCP shares at $32.00 per share,.
Those who are current investors in Care Capital Properties Inc (NYSE:CCP) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
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