Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP are investigating the proposed sale of CreXus Investment Corp. (“CreXus”) (NYSE: CXS) to Annaly Capital Management, Inc. for shareholders. Yesterday, Annaly Capital offered to purchase 87.6% of CreXus (which represents the shares not currently owned by Annaly Capital) in a deal valued at approximately $839 million. Under the proposed terms, CreXus shareholders will only receive $12.50 for each share of CreXus stock.
If you are an affected investor, and you want to learn more about the lawsuit or join the action, contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at firstname.lastname@example.org, or Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 706-9314, or via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.
The CreXus merger investigation centers on whether CreXus shareholders will receive adequate compensation for their shares in the proposed buyout, whether the transaction undervalues CreXus stock, and whether CreXus’ board is attempting to obtain the highest share price for all shareholders prior to agreeing to the deal. Shareholder rights attorney Willie Briscoe stated that “Based upon the strong financial performance of CreXus, the size of the deal, Annaly Capital’s relationship to the company, and other factors, we believe that the transaction may undervalue CreXus stock. Our proposed lawsuit will seek to ensure that shareholders receive the highest possible share price for their stock.”
The Briscoe Law Firm, PLLC is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.