Kendall Law Group, led by former federal judge Joe Kendall, is investigating SFN Group, Inc. (NYSE: SFN) for shareholders in connection with the proposed acquisition by Randstad Holding. The national securities firm’s investigation seeks to determine whether SFN Group and its Board breached their fiduciary duties by entering into the agreement without properly shopping for a deal that would provide better value for shareholders. If you are an SFN Group shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at firstname.lastname@example.org. On July 20, 2011, SFN Group announced the definitive merger agreement under which the company would be acquired by Randstad Holding, in a transaction valued at approximately $709.8 million. Under the terms of the agreement, SFN Group stockholders will receive $14.00 in cash for each share of SFN Group/SFN common stock held. While the offer price represents a 52 percent premium to SFN Group’s Wednesday closing price of $9.22, the company’s stock was trading for over $14.00 as recently as April of this year. In addition, according to Thompson/First Call, analysts have set a price target as high as $17.00 per share for SFN Group’s stock. The firm’s investigation seeks to determine whether SFN Group and its Board undertook a fair process in negotiating the deal. Kendall Law Group was founded by a former federal judge, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.
SFN Group (NYSE:SFN) hit a new 52-week high Friday as it is currently trading at $26.99, above its previous 52-week high of $26.94 with 4,675 shares traded as of 1:13 p.m. ET. Average volume has been 1.7 million shares over the past 30 days.