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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Mtge Investment Corp. (delisted) | NASDAQ:MTGE | NASDAQ | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 19.80 | 19.60 | 20.35 | 0 | 01:00:00 |
From Jun 2019 to Jun 2024
SAN DIEGO, May 3, 2018 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of MTGE Investment Corp. ("MTGE") (NASDAQ: MTGE) breached their fiduciary duties in connection with the proposed sale of the Company to Annaly Capital Management, Inc. ("Annaly") (NYSE: NLY). MTGE operates as a real estate investment trust (REIT) in the United States.
On May 2, 2018, it was announced that MTGE had signed a definitive merger agreement with Annaly. Under the deal, Annaly will acquire all outstanding shares of MTGE common stock. For each share of MTGE common stock, MTGE shareholders will have the option to take $9.82 in cash and 0.9519 shares of Annaly common stock, $19.65 in cash, or 1.9037 shares of Annaly common stock.
The investigation concerns whether the MTGE board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the merger and whether the board obtained the best price possible for MTGE shareholders. Nationally recognized Johnson Fistel is investigating whether the proposed deal represents adequate consideration, especially given one Wall Street analyst has a $21.00 price target on the stock.
If you are a shareholder of MTGE and believe the proposed sale price is too low or you're interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (jimb@johnsonfistel.com) at 619-814-4471. If emailing, please include a phone number.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
View original content:http://www.prnewswire.com/news-releases/mtge-alert-johnson-fistel-investigates-proposed-sale-of-mtge-investment-corp-are-shareholders-getting-a-fair-deal-300642033.html
SOURCE Johnson Fistel, LLP
Copyright 2018 PR Newswire
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