SAN DIEGO, May 24, 2017 /PRNewswire/ -- Shareholder rights law firm Johnson & Weaver, LLP (J&W) has launched an investigation into whether the board members of Fidelity & Guaranty Life (NYSE: FGL) ("FGL") breached their fiduciary duties in connection with the proposed sale of the Company to CF Corporation (NASDAQ: CFCO). FGL provides annuities and life insurance products in the United States. It offers fixed indexed annuities, fixed rate annuities, single premium immediate annuities, and indexed universal life insurance policies.
On May 24, 2017, FGL announced it had signed a definitive merger agreement with CF Corporation. Under the terms of the agreement, shareholders of FGL will receive $31.10 per share in cash for each share of stock that they own.
The investigation concerns whether FGL board failed to satisfy their duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for FGL shares of common stock.
Nationally recognized Johnson & Weaver is investigating whether the proposed deal price represents adequate consideration, especially given the following:
- FGL has grown sales by approximately 10% annually from 2012 to 2016.
- The changing U.S. retirement demographics and the demand for products like FGL's that help the retired generate income.
If you are a shareholder of FGL and believe the proposed buyout price is too low and you're interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (email@example.com) by email or by phone at 619-814-4471. If emailing, please include a phone number.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. 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.
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
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SOURCE Johnson & Weaver, LLP