SHAREHOLDER ALERT: Brower Piven Launches An Investigation Into The Proposed Sale Of MicroFinancial Incorporated And Encourage...
December 22 2014 - 4:12PM
Business Wire
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 MicroFinancial Incorporated
(“MicroFinancial” or the “Company”) (Nasdaq: MFI) relating to the
proposed buyout of the Company.
On December 15, 2014, MicroFinancial announced the signing of a
definitive agreement with MF Parent LP (“Parent”) and MF Merger Sub
Corp. (“Purchaser”), each an affiliate of funds managed by
affiliates of Fortress Investment Group LLC, whereby Parent will
acquire all of the outstanding shares of the Company in a
transaction valued at approximately $147 million. Under the terms
of the transaction, MicroFinancial shareholders are expected to
receive $10.20 in cash for each share of MicroFinancial common
stock they own.
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.
If you currently own common stock of MicroFinancial and would
like to learn more about the investigation being conducted by
Brower Piven, without cost or obligation to you, 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.
Brower Piven, A Professional CorporationCharles J. Piven,
410-415-66161925 Old Valley RoadStevenson, Maryland
21153hoffman@browerpiven.com
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