NEW YORK, Nov. 24, 2020 (GLOBE NEWSWIRE) -- Moore Kuehn, PLLC, a securities litigation law firm located on Wall Street in downtown New York City, is investigating potential claims concerning whether the following proposed mergers are fair to shareholders. Moore Kuehn may ultimately seek increased consideration, additional disclosures, or other relief and benefits on behalf of the shareholders of these companies:
- Foundation Building Materials (NYSE: FBM)
Foundation Building Materials has agreed to be acquired by American Securities for $1.37 billion or $19.25 per share in cash.
- CIT Group, Inc. (NYSE: CIT)
A registration statement was recently filed with the SEC regarding First Citizens BancShares’ acquisition of CIT Group. Under the proposed transaction, shareholders of CIT will receive 0.0620 of a share First Citizens’ class A common for every share owned. The investigation concerns whether CIT Group’s board oversaw an unfair process and ultimately agreed to an inadequate price.
Norbord has agreed to be acquired by West Fraser Timber for $3.1 billion in an all-stock deal. Under the terms of the agreement, Norbord shareholders will receive 0.675 of a West Fraser share for each Norbord share.
- Concho Resources Inc. (NYSE: CXO)
A registration statement was recently filed with the SEC regarding ConocoPhillips’ acquisition of Concho Resource, which may omit material information regarding the financial metrics and analyses used to evaluate the merger. Under the proposed transaction, shareholders of Concho will receive 1.46 shares of ConocoPhillips per share.
Moore Kuehn is investigating whether the Boards of the above companies 1) acted to maximize shareholder value, 2) failed to disclose material information, and 3) conducted a fair process.
Moore Kuehn encourages shareholders who would like to discuss their rights to contact Fletcher Moore, Esq. by email at fmoore@moorekuehn.com or telephone at (212) 709-8245. The consultation and case are free with no obligation to you. Shareholders should contact the firm immediately as there may be limited time to enforce your rights.
Moore Kuehn is a 5-star New York City-based law firm with attorneys representing investors and consumers in class action litigation involving securities law violations, financial fraud, breaches of fiduciary duties, and other claims. For additional information about Moore Kuehn, please go to http://www.moorekuehn.com/practice/new-york-securities-litigation/.
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Contacts:
Moore Kuehn, PLLC
Fletcher Moore, Esq.
30 Wall Street, 8th Floor
New York, New York 10005
fmoore@moorekuehn.com
(212) 709-8245