Source: Andrews & Springer LLC
WILMINGTON, Del., March 20, 2017 (GLOBE NEWSWIRE) -- Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, is investigating potential breach of fiduciary duty claims against the Board of Directors of Stonegate Mortgage Corporation (“Stonegate Mortgage” or the “Company”) relating to the sale of the Company to Home Point Financial Corporation (“Home Point”). On January 27, 2017, the two parties announced the signing of a definitive merger agreement pursuant to which Home Point will acquire Stonegate Mortgage in a merger worth $211 million. As a result of the merger, Stonegate Mortgage shareholders are only anticipated to receive $8.00 per share in cash in exchange for each share of Stonegate Mortgage.
Our Firm's investigation so far has also discovered that the process leading up to the announcement of the merger appears to have significant conflicts of interest, thus making the process and consideration unfair.
Andrews & Springer is investigating whether Stonegate Mortgage’s directors are breaching their fiduciary duties by failing to adequately shop the company and maximize shareholder value. Our firm is also investigating the Company's financial advisors, Barclays and FBR Capital Markets & Co., and whether they conducted a fair sales process.
If you own shares of Stonegate Mortgage and want to receive additional information and protect your investments free of charge, please visit us at http://www.andrewsspringer.com/cases-investigations/stonegate-mortgage-corporation-class-action-investigation/ or contact Craig J. Springer, Esq. at email@example.com, or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.
Andrews & Springer is a boutique securities class action law firm representing shareholders nationwide who are victims of securities fraud, breaches of fiduciary duty or corporate misconduct. Having formerly defended some of the largest financial institutions in the world, our founding members use their valuable knowledge, experience, and superior skill for the sole purpose of achieving positive results for investors. These traits are the hallmarks of our innovative approach to each case our Firm decides to prosecute. For more information please visit our website at www.andrewsspringer.com. This notice may constitute Attorney Advertising.
Contact: Craig J. Springer, Esq. firstname.lastname@example.org Toll Free: 1-800-423-6013
Retrieved from "http://globenewswire.com/news-release/2017/03/20/942458/0/en/STONEGATE-MORTGAGE-MERGER-INVESTIGATION-ALERT-Andrews-Springer-LLC-Is-Seeking-More-Cash-for-Shareholders-of-Stonegate-Mortgage-Corporation.html"