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Faruqi & Faruqi, LLP Announces Investigation of Board of Directors of CreXus Investment Corp


Monday, 12 Nov 2012 07:01pm EST 

Faruqi & Faruqi, LLP, a national securities firm headquartered in New York City, announced that it is investigating the Board of Directors of CreXus Investment Corp for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Annaly Capital Management, Inc. in an all-cash deal valued at approximately $839 million. Under the terms of the proposed transaction, CreXus stockholders will receive $12.50 in cash for each share of CreXus common stock they own. Whether CreXus’ Board of Directors is acting in accordance with their fiduciary duties to CreXus’ stockholders to conduct an adequate and fair sales process to sell the Company, whether the proposed transaction undervalues CreXus’ shares, whether CreXus’ Board of Directors is adequately negotiating a price increase for the proposed transaction and by how much this proposed transaction undervalues the Company to the detriment of CreXus’ shareholders is the key focus of this investigation. 

Company Quote

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21 Jul 2014