The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by the Board of Directors of EverBank Financial Corp. (NYSE: EVER) (“EverBank” or the “Company”) relating to the proposed buyout of EverBank by Teachers Insurance and Annuity Association of America.
Under the terms of the agreement, EverBank shareholders are anticipated to receive $19.50 in cash for each share of EverBank common stock held. The transaction may undervalue the Company and would result in no real gain or a loss for many EverBank shareholders, especially given that the Company’s 52-week high is $21.18.
The firm’s investigation seeks to determine, among other things, whether the Company’s Board of Directors failed to satisfy their duties to shareholders, including whether the Board adequately pursued alternatives to the acquisition and whether the Board obtained the best price possible for the Company’s shares of common stock. For example, according to Yahoo! Finance, at least one Wall Street analyst has issued a price target for EverBank stock at $22.00 per share.
If you currently own common stock of EverBank and believe that the proposed buyout price is too low, or you would like to learn more about the investigation being conducted by Brower Piven, please visit our website at http://www.browerpiven.com/currentinvestigations.html. You may also request more information by contacting Brower Piven either by email at hoffman@browerpiven.com or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160812005033/en/
Contacts:
Charles J. Piven,
410-415-6616
1925 Old Valley Road
Stevenson, Maryland 21153
hoffman@browerpiven.com
