MONSEY, N.Y., Feb. 20, 2024 (GLOBE NEWSWIRE) -- The law firm of Wohl & Fruchter LLP is investigating the fairness of the proposed merger of Discover Financial Services (NYSE: DFS) (“Discover”) with Capital One (“Capital One”) in an all-stock transaction. Under the terms of the deal, each Discover shareholder will receive 1.0192 shares of Capital One, which values Discover at nearly $140.00 per share based on Capital One’s closing price on February 16, 2024.
If you remain a Discover shareholder and have concerns about the fairness of the deal price, you may contact our firm at the following link to discuss your legal rights at no charge:
https://wohlfruchter.com/cases/discover-financial-services/
Alternatively, you may contact us by phone at 866-833-6245, or via email at alerts@wohlfruchter.com.
Why is there an investigation?
On February 19, 2024, Discover announced that it had agreed to merge with Capital One in an all-stock transaction. Under the terms of the deal, each Discover shareholder will receive 1.0192 shares of Capital One, which values Discover at nearly $140.00 per share based on Capital One’s closing price on February 16, 2024.
“We are investigating whether the Discover Board of Directors acted in the best interests of Discover shareholders in approving the merger,” explained Joshua Fruchter, a founding partner of Wohl & Fruchter. “This includes whether the exchange ratio agreed upon is fair to Discover shareholders, and whether all material information regarding the transaction has been fully disclosed.”
Notably, several Discover shareholders publishing on SeekingAlpha have expressed disappointment with the exchange ratio.
About Wohl & Fruchter
Wohl & Fruchter LLP has for over a decade been representing investors in litigation arising from fraud and other corporate misconduct, and recovered hundreds of millions of dollars in damages for investors. Please visit our website, www.wohlfruchter.com, to learn more about our Firm, or contact one of our partners.
Contact:
Wohl & Fruchter LLP
Joshua E. Fruchter
Toll Free 866.833.6245
alerts@wohlfruchter.com
www.wohlfruchter.com
