SHAREHOLDER ALERT: WeissLaw LLP Investigates Front Yard Residential Corporation

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PR Newswire

NEW YORK, Feb. 20, 2020

NEW YORK, Feb. 20, 2020 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Front Yard Residential Corporation ("Front Yard" or the "Company") (NYSE: RESI) in connection with the proposed merger of the Company with Amherst Residential, LLC, a subsidiary of Amherst Holdings, LLC ("Amherst Holdings"). Under the terms of the merger agreement, RESI shareholders will receive $12.50 per share in cash. The deal is scheduled to close in the second quarter of 2020.

WeissLaw LLP (PRNewsfoto/WeissLaw LLP)

If you own RESI shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:

http://www.weisslawllp.com/front-yard-residential-corp/

Or please contact:
Joshua Rubin, Esq.
WeissLaw LLP
1500 Broadway, 16^th Floor
New York, NY 10036
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com

WeissLaw is investigating whether Front Yard's Board acted to maximize shareholder value prior to entering into the merger agreement. Notably, the offer price is nearly 6% less than RESI's 52-week high of $13.28.

Additionally, the merger agreement has a "No Solicitation or Negotiation" provision barring Front Yard from soliciting proposals from other parties.

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Finally, according to Amherst Holdings' CEO and Chairman, the deal provides his company with "expanded scale, additional team members in local markets and the collective experience of both teams, [and] provides a powerful platform that is well positioned to serve the broad constituency focused on affordable, safe, attractive housing."

Given these facts, WeissLaw is concerned whether the proposed merger agreement undervalues the Company, whether the Board ran a fair process, and whether all material information related to the proposed merger is fully and fairly disclosed.

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

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SOURCE WeissLaw LLP

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