DALLAS--(BUSINESS WIRE)--Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor LLP are investigating potential claims against the Board of Directors of Fidelity & Guaranty Life (“Fidelity”) (NYSE: FGL) concerning the merger with Anbang Insurance Group Co., Ltd. Under the terms of the agreement, valued at approximately $1.57 billion, Fidelity shareholders will only receive $26.80 in cash per share held, which is significantly lower than at least one analyst’s target price of $30.00 per share.
If you are an affected investor, and you want to learn more about the investigation or if you have information that you believe would be helpful to our investigation of the fairness of the proposed transaction, contact Willie Briscoe at The Briscoe Law Firm, PLLC via email at firstname.lastname@example.org, Patrick Powers at Powers Taylor LLP via e-mail at email@example.com or by calling toll free at (877) 728-9607. There is no cost or fee to you.
The investigation centers on whether Fidelity’s Board of Directors is acting in the shareholders’ best interests, whether the board is properly negotiating a higher share price for the shareholders, and whether the board has employed an adequate process to review and act on the proposed transaction. Notably, at least one analyst with Yahoo! Finance believes the true inherent value of Fidelity could be as high as $30.00 per share.
The Briscoe Law Firm, PLLC is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.
Powers Taylor LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.