An investigation on behalf of investors of Resource America Inc (NASDAQ:REXI) in connection with the proposed takeover was announced and NASDAQ:REXI stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 06/02/2016 -- An investigation for investors in shares of Resource America Inc (NASDAQ:REXI), was announced over whether the buyout of Philadelphia, PA based Resource America Inc. by C-III Capital Partners LLC for $9.78 per share is unfair to NASDAQ:REXI stockholders.
Investors who purchased shares of Resource America Inc (NASDAQ:REXI) and currently hold any of those NASDAQ:REXI shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain directors of Resource America Inc breached their fiduciary duties owed to NASDAQ:REXI investors in connection with the proposed acquisition.
Resource America, Inc. is an asset management company that specializes in real estate and credit investments. On May 23, 2016 Resource America Inc (NASDAQ:REXI) announced that it has entered into an agreement to be acquired by C-III Capital Partners LLC. Under the terms of the agreement, Resource America Inc (NASDAQ:REXI) stockholders will receive $9.78 per share in cash, or a total of approximately $ 207 million.
However, given that at least one analyst has set the high target price for NASDAQ:REXI shares at $11.00 per share, the investigation concerns whether the offer is unfair to NASDAQ:REXI stockholders. More specifically, the investigation concerns whether the Resource America Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
On June 1, 2016, NASDAQ:REXI shares closed at $9.64 per share.
Those who are current investors in Resource America Inc 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