Energy News / Shareholders Foundation, Inc.

NYSE:PHH Investor Alert: Lawsuit Filed in Effort to Halt the Takeover of PHH Corporation

Via: ReleaseWire

Updated 11:45 AM CDT, Mon, April 23,2018

A lawsuit was filed for investors in shares of PHH Corporation (NYSE:PHH) in connection with the proposed takeover and NYSE:PHH stockholders should contact the Shareholders Foundation.

San Diego, CA -- (SBWIRE) -- 04/23/2018 -- The Shareholders Foundation announces that an investor, who currently holds shares of PHH Corporation (NYSE:PHH), filed a lawsuit against the takeover of PHH Corporation by Ocwen Financial Corporation.

Investors who purchased shares of PHH Corporation (NYSE:PHH) and currently hold any of those NYSE:PHH shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE:PHH stockholders by agreeing to sell PHH Corporation cheaply via an unfair process to Ocwen Financial Corporation.

On February 27, 2018 , PHH Corporation (NYSE: PHH) announced that it has entered into an agreement in which Ocwen Financial Corporation (NYSE: OCN) will acquire all of the Company's outstanding shares of common stock in an all cash transaction valued at $360 million, or $11.00per fully-diluted share.

However, plaintiff claims that the proposed consideration NYSE:PHH shareholders will receive is grossly inadequate and undervalues PHH Corporation. Indeed, NYSE:PHH shares reached as high as $27.59 per share in 2015. In addition, the plaintiff alleges that the process is also unfair to NYSE:PHH stockholders.

Those who are current investors in PHH Corporation (NYSE:PHH) shares have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

For more information on this press release visit:
http://www.sbwire.com/press-releases/nysephh-investor-alert-lawsuit-filed-in-effort-to-halt-the-takeover-of-phh-corporation-966893.htm

Media Relations Contact
Michael Daniels
858-779-1554
Email: Click to Email Michael Daniels
Web: http://www.ShareholdersFoundation.com