Shareholder Rights Law Firm Johnson & Weaver, LLP is investigating whether members of the board of directors of Nicholas Financial, Inc. (Nasdaq:NICK) breached their fiduciary duties in connection with the proposed acquisition by Prospect Capital Corporation (Nasdaq:PSEC). On December 18, 2013, Prospect Capital Corporation announced that they had entered into a definitive merger agreement to acquire Nicholas Financial, Inc. for $16.00 a share. The investigation concerns whether Nicholas Financial’s board members failed to satisfy their duties to the Company’s shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for the Company’s shares of common stock. The $16.00 per share acquisition price is well below where the stock was trading just several months ago. If you are a Nicholas Financial shareholder and would like additional information concerning your legal rights, please contact lead analyst Jim Baker ( firstname.lastname@example.org) at 619-230-0063. Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California and New York. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.
Nicholas Financial, an auto lender, called off a planned acquisition by Prospect Financial after the Securities and Exchange Commission required Prospect to change the way it accounts for companies it owns on its balance sheet.