BALA CYNWYD, Pa., April 11, 2016 /PRNewswire/ -- Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Hatteras Financial Corp. ("Hatteras" or "the Company") (NYSE- HTS-News) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Annaly Capital Management, Inc. ("Annaly").
Click here to learn more about the investigation http://brodsky-smith.com/1058-hts-hatteras-financial-corp.html, or call: 877-534-2590. There is no cost or obligation to you.
Under the terms of the transaction, Hatteras shareholders will receive only: (a) $5.55 in cash and 0.9894 shares of Annaly; or (b) 15.85 in cash; or (c) 1.5226 shares of Annaly common stock for each share of Hatteras stock they own. Hatteras shareholders are subject to proration. The total consideration paid to Hatteras shareholders will consist of approximately 65% of Annaly's common stock and approximately 35% in cash.
The investigation concerns whether the Board of Hatteras breached their fiduciary duties to shareholders and whether Annaly is underpaying for the Company. The transaction may undervalue the Company and would result in a loss for many Hatteras shareholders. For example, Hatteras stock traded at $18.82 per share on March 23, 2015 and an analyst has set a $20.00 per share price target for Hatteras stock.
If you own shares of Hatteras and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 510, Bala Cynwyd, PA 19004, by visiting http://brodsky-smith.com/1058-hts-hatteras-financial-corp.html, or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
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SOURCE Brodsky & Smith, LLC