A lawsuit was filed for investors in shares of First Data Corporation (NYSE: FDC) in connection with the proposed takeover and NYSE: FDC stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 04/08/2019 -- An investor, who currently holds shares of First Data Corporation (NYSE: FDC), filed a lawsuit against the takeover of First Data by Fiserv.
Investors who purchased shares of First Data Corporation (NYSE: FDC) and currently hold any of those NYSE: FDC shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE: FDC stockholders by agreeing to sell First Data Corporation cheaply via an unfair process.
On January 16, 2019, Fiserv (NASDAQ: FISV) and First Data Corporation (NYSE: FDC) announced that a definitive merger agreement under which Fiserv will acquire First Data in an all-stock transaction. Under the terms of the agreement, First Data shareholders will receive a fixed exchange ratio of 0.303 Fiserv shares for each share of First Data common stock they own, for an equity value of $22 billion. This represents $22.74 per NYSE: FDC shares based on closing prices as of January 15, 2019.
However, plaintiff claims that the proposed consideration NYSE: FDC shareholders will receive is grossly inadequate and undervalues First Data Corporation. Indeed, at least one analyst has set the high target price for NYSE: FDC shares at $35.00 per share and NYSE: FDC shares traded as recently as September 2018 in the open market as high as $26.25 per share.
In addition, the plaintiff alleges that the process is also unfair NYSE: FDC stockholders. Indeed, an affiliate of Kohlberg Kravis Roberts & Co. L.P., New Omaha Holdings L.P., which controls approximately 39% of the outstanding First Data common stock and 86% of the voting rights of First Data, has already entered into a voting agreement in support of the transaction.
Those who are current investors in First Data Corporation (NYSE: FDC) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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