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Donnerstag, 11.05.2017 23:15 von | Aufrufe: 92

SHAREHOLDER ALERT: WeissLaw LLP Investigates the Acquisition of West Corporation

Zeitungsständer (Symbolbild). © AdrianHancu / iStock Editorial / Getty Images Plus / Getty Images

PR Newswire

NEW YORK, May 11, 2017 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of West Corporation ("WSTC" or the "Company") (NASDAQ: WSTC) in connection with the proposed acquisition of the Company by affiliates of Apollo Global Management, LLC ("Apollo") (NYSE: APO). Under the terms of the agreement, the Company's shareholders will receive $23.50 in cash for each WSTC share they own.

WeissLaw is investigating whether WSTC's Board acted to maximize shareholder value prior to entering into the agreement.  Notably, the per-share consideration is a material discount from WSTC's May 9 closing price of $24.11, well below the Company's recent trading high of $26.91 and 52 week high of $28.57, and $0.50 lower than the consensus analyst target price of $24.00 per share.  In addition, the Company is the leader in global conferencing and collaboration services, and in Apollo's own words, WSTC "is well-positioned to capitalize on customer migration to cloud-based solutions and continue to grow its Safety Services, Interactive Services and Health Advocate Solutions businesses."  Finally, as a condition to the transaction, West agreed to suspend its quarterly dividend.

Given these facts, WeissLaw is investigating whether WSTC's Board acted in the best interests of its public shareholders to maximize shareholder value prior to entering into the agreement.  If you own WSTC shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at stockinfo@weisslawllp.com

WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties.  We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases.  If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at stockinfo@weisslawllp.com or fill out the form on our website, http://www.weisslawllp.com/westcorporation/

 

SOURCE WeissLaw LLP


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