NEW YORK, Aug. 11, 2020 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of MVC Capital, Inc. ("MVC" or the "Company") (NYSE: MVC) in connection with the proposed acquisition of the Company by Barings BDC, Inc. ("BBDC") (NYSE: BBDC). Under the terms of the acquisition agreement, the Company's shareholders will receive 0.94024 shares of BBDC and $0.39 in cash for each share of MVC common stock that they own. This represents an implied consideration of approximately $8.21 based on BBDC's August 10, 2020 closing price of $8.31.
If you own MVC 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. WeissLaw LLP 1500 Broadway, 16th Floor New York, NY 10036 (212) 682-3025 (888) 593-4771 [email protected]
WeissLaw is investigating whether MVC's board was truly independent and acted to maximize shareholder value in agreeing to the proposed transaction, whether the board was fully informed as to the valuation of the proposed acquisition of the Company, and whether all information regarding the valuation of the deal will be fully and fairly disclosed to MVC shareholders. These issues are of particular concern in light of the fact that Leon Cooperman, Wynnefield Capital, Inc., and West Family Investments, Inc., who collectively control have a 25% ownership interest in MVC, have entered into voting agreements in support of the transaction and may have exerted undue influence on MVC's board. Moreover, at least one analyst set a target price of $9.00 per MVC share.
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]