DALLAS, June 30, 2009 (GLOBE NEWSWIRE) -- Kendall Law Group, led by a former federal judge and U.S. Attorney, is investigating shareholder claims arising from the acquisition of First Advantage Corp. (Nasdaq:FADV) by First American Corp. (NYSE: FAF).
The investigation focuses on whether the First Advantage Board of Directors fulfilled its fiduciary duties to maximize shareholder value in connection with the acquisition. First American's offer values First Advantage at $14.04 per share or $837 million for all outstanding shares. However, First American already owns approximately 74% of First Advantage. The remaining value for First American to take over First Advantage is therefore only $218.148 million. Shares of First Advantage increased after the announcement and closed with $15.07 per share, significantly higher than the proposed takeover price of $14.04. Shares of First Advantage Corp. reached a 52 week high of $18.75 per share, $22.37 per share in April 2008, and $26.78 per share in 2007.
If you are currently an investor in First Advantage and purchased your shares before June 29, 2009, please contact attorney Hamilton Lindley at 877-744-3728, or by email at hlindley@kendalllawgroup.com to discuss your rights.
Although every case is different, Kendall Law Group has tremendous success in representing investors in securities lawsuits. Since 2002, the lawyers of the firm have participated in the recovery of over one billion dollars for their clients. To learn more about the firm, please visit www.kendalllawgroup.com.
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