The law firm of Federman & Sherwood has initiated an investigation into Ft. Lauderdale-based SFN Group, Inc. (NYSE: SFN) (“SFN Group”) with respect to possible breaches of fiduciary duty by the company’s officers and directors, as well as violations of state law, in connection with its proposed acquisition by Randstad Holding nv (Euronext Amsterdam: RAND.AS) (“Randstad”).
On July 20, 2011, SFN Group announced that it had agreed to be purchased and merge with Randstad, whereby Randstad would acquire all outstanding shares of SFN Group’s common stock via an all cash offer of $771 million (or $14.00 per outstanding share). Federman & Sherwood is investigating whether the proposed merger makes all necessary disclosures to stockholders, whether it offers adequate long-term value to SFN Group’s shareholders, and whether SFN Group could have received a higher valuation for its shareholders had the officers and directors aggressively sought other purchasers for the company, especially in light of the fact that one analyst set a target price of $17.00 per share for SFN Group stock, thereby depriving the SFN Group shareholders of any premium if this transaction is approved. The deal is expected to close in September, 2011, but still must be approved by a majority of the shareholders.
If you currently own common stock in SFN Group, Inc., have information to assist in our investigation, or have any questions or concerns regarding this notice or preservation of your rights, please contact William B. Federman. Federman & Sherwood has extensive experience representing investors in securities, derivative and merger-related shareholder class actions in state and federal courts nationwide.
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