NEW YORK, April 11, 2016 /PRNewswire/ -- Milberg LLP is investigating possible breaches of fiduciary duty and other violations of law in connection with the proposed acquisition of Hatteras Financial Corp. ("Hatteras") (HTS) by Annaly Capital Management, Inc. ("Annaly") (NLY).
On April 11, 2016, Hatteras announced that it had signed a definitive agreement under which Annaly will acquire Hatteras. Under the terms of the agreement, Hatteras shareholders may elect to receive (a) $5.55 in cash and 0.9894 shares of Annaly common stock; (b) $15.85 in cash; or (c) 1.5226 shares of Annaly common stock. However, Hatteras stock has traded at well above $15.85 per share, reaching a 52-week high of $18.82. Further, Hatteras has a high price target of $20.00, according to at least one analyst.
Milberg LLP's investigation focuses on the potential unfairness of the consideration being provided to Hatteras' stockholders and the process by which Hatteras' Board of Directors considered and approved the proposed deal.
Concerned investors are invited to contact the Milberg attorneys listed below to discuss the investigation, their rights, or potential remedies.
Founded in 1965, Milberg LLP was one of the first law firms to prosecute class actions in federal courts on behalf of investors and consumers and has been representing investors and consumers for more than four decades. Milberg LLP is widely recognized as a leader in defending the rights of victims of corporate and other large-scale wrongdoing, serving as lead counsel in federal and state courts throughout the United States. For more information, please visit the firm website at www.milberg.com.
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SOURCE Milberg LLP