WILMINGTON, Del., April 24, 2023 (GLOBE NEWSWIRE) -- Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, is investigating potential breach of fiduciary duty claims against the Board of Directors of Focus Financial Partners, Inc. (NASDAQGS: FOCS) (“Focus Financial” or the “Company”) relating to the sale of Focus Financial to Clayton Dubilier & Rice, LLC (“CD&R”), a private equity firm. On February 27, 2023, the two parties announced that they reached an agreement in principle pursuant to which CD&R will acquire Focus Financial in a going private merger. As a result of the merger, Focus Financial shareholders are only anticipated to receive $53.00 per share in cash in exchange for each share of Focus Financial.
Our Firm's investigation so far has discovered that the merger appears to have significant conflicts of interest, thus making the process and consideration unfair. For example, Stone Point Capital, which currently owns and controls over 20% of Focus Financial’s outstanding stock, is rolling over a portion of its equity into the private company while Focus Financial’s remaining shareholders are receiving $53.00 per share in cash with no upside in the combined company. In fact, the $53.00 per share consideration is only a 5.57% premium to the Company’s $50.20 per share closing price on February 24, the last trading day before the merger was announced.
If you currently own shares of Focus Financial and want to receive additional information and protect your investments free of charge, please visit us at http://www.andrewsspringer.com/cases-investigations/focus-financial-merger-class-action-investigation/ or contact Craig J. Springer, Esq. at cspringer@andrewsspringer.com, or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.
Andrews & Springer is a boutique securities class action law firm representing shareholders nationwide who are victims of securities fraud, breaches of fiduciary duty or corporate misconduct. Having formerly defended some of the largest financial institutions in the world, our founding members use their valuable knowledge, experience, and superior skill for the sole purpose of achieving positive results for investors. These traits are the hallmarks of our innovative approach to each case our Firm decides to prosecute. For more information please visit our website at www.andrewsspringer.com. This notice may constitute Attorney Advertising.
| Contact: | Craig J. Springer, Esq. | |
| cspringer@andrewsspringer.com | ||
| Toll Free: 1-800-423-6013 |
