NEW YORK, Sept. 23, 2016 /PRNewswire/ -- Nadeem Faruqi, founding partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of WCI Communities, Inc. ("WCI" or the "Company") (NYSE: WCIC) for potential breaches of fiduciary duties in connection with the sale of the Company to Lennar Corporation for approximately $643 million.
The Company's stockholders will only receive $11.75 in cash and a fraction of a share of Lennar Class A common stock with a value of $11.75, a total of $23.50, for each share of Company common stock they own. However, the offer is below the 52-week high price of $25.00 per share.
Click here for more information: www.faruqilaw.com/WCIC. There is no cost or obligation to you.
The investigation focuses on whether WCI's Board of Directors breached their fiduciary duties to the Company's stockholders by failing to conduct a fair sales process and whether and by how much this proposed transaction undervalues the Company to the detriment of WCI's shareholders.
Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients. To keep track of the latest securities litigation news, follow us on Twitter at www.twitter.com/MergerActivity or on Facebook at www.facebook.com/FaruqiLaw.
Faruqi & Faruqi, LLP is working together in this investigation with Juan E. Monteverde from Monteverde & Associates PC.
If you own common stock in WCI and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/WCIC or contact Nadeem Faruqi, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330. You may also contact Juan E. Monteverde, Esq. either via email at email@example.com or by telephone at (212) 971-1341.
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Phone: (212) 983-9330
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