SAN DIEGO, May 10, 2017 /PRNewswire/ -- Shareholder rights law firm Johnson & Weaver, LLP (J&W) has launched an investigation into whether the board members of West Corporation (NASDAQ: WSTC) breached their fiduciary duties in connection with the proposed sale of the Company to Apollo Global Management, LLC. West provides communication and network infrastructure services.
On May 9, 2017, West announced it had signed a definitive merger agreement with Apollo. Under the terms of the agreement, Apollo funds will acquire all of the outstanding shares of West common stock for $23.50 per share in cash.
The investigation concerns whether the Board of West breached their fiduciary duties to shareholders and whether Apollo is underpaying for the Company. The transaction may put too small a price on the Company and would result in a loss for many West shareholders. The price being paid by Apollo is below an analyst price target of $29.00 per share. Last year the stock traded as high as $28.57.
If you are a shareholder of West 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) at 619-814-4471.
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
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/west-wstc-alert-jw-investigates-price-and-process-of-proposed-sale-of-west-corporation-is-2350-a-fair-price-300455169.html
SOURCE Johnson & Weaver, LLP