SAN DIEGO, May 3, 2018 /PRNewswire/ -- Shareholder
rights law firm Johnson Fistel, LLP has launched an investigation
into whether the board members of MTGE Investment Corp. ("MTGE")
(NASDAQ: MTGE) breached their fiduciary duties in connection with
the proposed sale of the Company to Annaly Capital Management, Inc.
("Annaly") (NYSE: NLY). MTGE operates as a real estate investment
trust (REIT) in the United
States.
On May 2, 2018, it was announced
that MTGE had signed a definitive merger agreement with Annaly.
Under the deal, Annaly will acquire all outstanding shares of MTGE
common stock. For each share of MTGE common stock, MTGE
shareholders will have the option to take $9.82 in cash and 0.9519 shares of Annaly common
stock, $19.65 in cash, or 1.9037
shares of Annaly common stock.
The investigation concerns whether the MTGE board failed to
satisfy its duties to the Company shareholders, including whether
the board adequately pursued alternatives to the merger and whether
the board obtained the best price possible for MTGE shareholders.
Nationally recognized Johnson
Fistel is investigating whether the proposed deal represents
adequate consideration, especially given one Wall Street analyst
has a $21.00 price target on the
stock.
If you are a shareholder of MTGE and believe the
proposed sale price is too low or you're interested in learning
more about the investigation or your legal rights and remedies,
please contact lead analyst Jim
Baker (jimb@johnsonfistel.com) at 619-814-4471. If emailing,
please include a phone number.
About Johnson Fistel,
LLP:
Johnson Fistel, LLP is a nationally
recognized shareholder rights law firm with offices in California, New
York and Georgia. The firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits. For more
information about the firm and its attorneys, please visit
http://www.johnsonfistel.com. Attorney advertising. Past results do
not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
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SOURCE Johnson Fistel, LLP