SAN DIEGO, Jan. 16, 2019 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of First Data Corporation (NYSE: FDC) ("First Data") breached their fiduciary duties in connection with the proposed sale of the Company to Fiserv, Inc. (NASDAQ: FISV) ("Fiserv").
On January 16, 2019, First Data announced that it had signed a definitive merger agreement with Fiserv. Under the terms of the agreement, First Data shareholders will receive a fixed exchange ratio of 0.303 Fiserv shares for each share of First Data common stock they own. This represents $22.74 based on closing prices as of January 15. However, shareholders will be subject to the future price fluctuation of Fiserv 's stock price.
The investigation concerns whether the First Data board failed to satisfy its 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 First Data shares of common stock. Nationally recognized Johnson Fistel is investigating whether the proposed deal represents adequate consideration, especially given that one Wall Street analyst has a $35.00 price target on the stock, The 52-week high for First Data was $26.62.
If you are a shareholder of First Data and believe the proposed buyout price is too low or you're interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (firstname.lastname@example.org) at 619-814-4471. If emailing, please include a phone number.
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About Johnson Fistel, LLP:
Johnson Fistel, 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 https://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson Fistel, LLP
Jim Baker, 619-814-4471
SOURCE Johnson Fistel, LLP