NEW YORK, April 14, 2020 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of FGL Holdings, Inc. ("FG" or the "Company") (NYSE: FG) in connection with the proposed acquisition of the Company by Fidelity National Financial, Inc. ("FNF") (NYSE: FNF). Under the terms of the acquisition agreement, FG shareholders can elect to receive $12.50 in cash or 0.2558 shares of FNF common stock for each FG share they own.
If you own FG shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
Or please contact:
Joshua Rubin, Esq.
1500 Broadway, 16th Floor
New York, NY 10036
WeissLaw is investigating whether FG's board acted to maximize shareholder value prior to entering into the acquisition agreement. Notably, the acquisition will enhance FNF's financial strength and its ability to access deployable capital. FNF also anticipates that the transaction will accelerate its entry into banking channels.
Moreover, at closing, FG shareholders will own a mere 7% of all outstanding FNF common stock.
Finally, both FNF and FG share common board members. This calls into doubt the independence of the Company's board and whether the negotiation with respect to this transaction was truly arm's length.
Given these facts, WeissLaw is concerned whether the proposed acquisition undervalues the Company, whether FG's board was truly independent and acting in the best interests of the Company's stockholders, and whether all material information related to the proposed acquisition has been fully and fairly disclosed.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at [email protected]
SOURCE WeissLaw LLP