Under the terms of the transaction, Diamond Resorts shareholders will receive only $30.25 in cash for each share of Diamond Resorts stock they own. The investigation concerns whether the Board of Diamond Resorts breached their fiduciary duties to shareholders and whether Apollo is underpaying for the Company. The transaction may undervalue the Company and would result in a substantial loss for many long-term Diamond Resorts shareholders. For example, Diamond Resorts stock traded at $34.61 per share on June 11, 2015 and an analyst has set a price target for the Diamond Resorts stock at $33.00 per share.
If you own shares of Diamond Resorts stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 510, Bala Cynwyd, PA 19004, by visiting http://brodsky-smith.com/1097-drii-diamond-resorts-international-inc.html, or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/shareholder-alert-brodsky--smith-llc-announces-an-investigation-of-the-board-of-directors-of-diamond-resorts-international-inc-drii-300294231.html
SOURCE Brodsky & Smith, LLC