A lawsuit was filed for investors in shares of Stewart Information Services Corp (NYSE:STC) in connection with the proposed takeover and NYSE:STC stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 07/09/2018 -- The Shareholders Foundation announces that an investor, who currently holds shares of Stewart Information Services Corp (NYSE:STC), filed a lawsuit against the takeover of Stewart Information Services Corp. by Fidelity National Financial, Inc.
Investors who purchased shares of Stewart Information Services Corp (NYSE:STC) and currently hold any of those NYSE:STC 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:STC stockholders by agreeing to sell Stewart Information Services Corp. cheaply via an unfair process.
On March 19, 2018, Stewart Information Services Corporation (NYSE: STC) announced that it has entered into an agreement to be acquired by Fidelity National Financial, Inc. (NYSE: FNF).
Under the terms of the agreement which has been approved by Stewart's Board of Directors, Stewart Information Services Corp (NYSE:STC) shareholders will receive $25.00 in cash and 0.6425 common shares of Fidelity for each share of Stewart common stock they hold at closing. Based on the closing price of Fidelity stock on March 16, 2018, this represents a value of approximately $50.20 per share.
However, plaintiff claims that the proposed consideration NYSE:STC shareholders will receive is grossly inadequate and undervalues Stewart Information Services Corp. In addition, the plaintiff alleges that the process is also unfair NYSE:STC stockholders.
Those who are current investors in Stewart Information Services Corp (NYSE:STC) 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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