NEW YORK--(BUSINESS WIRE)--Lynda J. Grant, an attorney with over 30 years of experience representing wronged shareholders and consumers and a New York Metro Superlawyer, announces that TheGrantLawFirm, PLLC is investigating potential claims on behalf of shareholders of Forestar Group, Inc (NYSE: FOR) for securities fraud and/or breaches of fiduciary duty.
A class action lawsuit was filed against Forestar Group Inc. (“Forestar Group” or the “Company”) (NYSE:FOR) in the United States District Court for the Western District of Texas for violations of Sections 14(a) and 20(a) of the Securities Exchange Act of 1934 (“Exchange Act”) in connection with the plan of merger (the “Merger Agreement”) with Forestar Group and Terra Firma Merger Parent, L.P. (“Parent”) and Terra Firma Merger Sub, L.P. (“Merger Sub,” and together with Parent and Starwood Capital Group, “Starwood”). Pursuant to the terms of the Merger Agreement, shareholders of Forestar will receive $14.25 per share in cash (the “Transaction”).
On June 5, 2017, D.R. Horton (“Horton”) announced that it had offered to buy 75% of the Company for $16.25, more than the consideration being offered in the Transaction, in a transaction that would allow the Company to remain public (the “Horton Offer”).
TheGrantLawFirm is presently investigating whether the Company and its directors disseminated materially false and misleading statements in the Proxy, and whether the Transaction is fair to Forestar shareholders in light of the Horton Offer. If you are a shareholder of Forestar and would like additional information regarding this matter, please contact Lynda J. Grant at 212-292-4441 or firstname.lastname@example.org.