NEW YORK NEW YORK--(BUSINESS WIRE)--Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of SilverCrest Mines Inc. (“SilverCrest” or the “Company”) (NYSE MKT:SVLC) for potential breaches of fiduciary duties in connection with the sale of the Company to First Majestic Silver Corp. for approximately $117.25 million in a cash and stock transaction .
The Company’s stockholders will only receive 0.2769 common shares of First Majestic plus C$0.0001 in cash for each Company common share held, approximately $0.92. However, the offer represents a negative premium compared to the opening price of $0.93 on August 11, 2015 and is well below low analyst price targets of $1.44.
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The investigation focuses on whether SilverCrest’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct a fair sales process and whether and by how much this proposed transaction undervalues the Company to the detriment of SilverCrest’s shareholders.
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If you own common stock in SilverCrest and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/SVLC or contact Juan E. Monteverde, Esq. either via e-mail at jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or (212) 983-9330.
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