SAN DIEGO, Dec. 5, 2017 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Regal Entertainment Group ("Regal") (NYSE: RGC) breached their fiduciary duties in connection with the proposed sale of the Company to Cineworld Group PLC ("Cineworld"). Regal, together with its subsidiaries, operates as a motion picture exhibitor in the United States.
On December 4, 2017, Regal announced that it had signed a definitive merger agreement with Cineworld. Under the terms of the agreement, Cineworld will acquire each share of Class A and Class B common stock of Regal in exchange for $23.00 in cash.
The investigation concerns whether the Regal 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 Regal shares of common stock. Nationally recognized Johnson Fistel is investigating whether the proposed deal price represents adequate consideration, especially given one Wall Street analyst has a $24.75 price target on the stock.
If you are a shareholder of Regal 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.
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 http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson Fistel, LLP
Jim Baker, 619-814-4471
SOURCE Johnson Fistel, LLP