WILMINGTON, Del.--(BUSINESS WIRE)--Rigrodsky & Long, P.A.:
- Do you own shares of MTGE Investment Corp. (NASDAQ GS: MTGE)?
- Did you purchase any of your shares prior to May 3, 2018?
- Do you think the proposed merger is fair?
- Do you want to discuss your rights?
Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of MTGE Investment Corp. (“MTGE” or the “Company”) (NASDAQ GS: MTGE) regarding possible breaches of fiduciary duties and other violations of law related to the Company’s entry into an agreement to be acquired by Annaly Capital Management, Inc. (“Annaly”) (NYSE: NLY) in a transaction valued at approximately $900 million. Under the terms of the agreement, shareholders of MTGE may elect to receive: (a) $9.82 in cash and 0.9519 shares of Annaly common stock; (b) $19.65 in cash (the “Cash Consideration Option”); or (c) 1.9037 shares of Annaly common stock (the “Stock Consideration Option”). MTGE shareholders who elect the Cash Consideration Option or Stock Consideration Option will be subject to proration, in each of the exchange offer and the subsequent second step merger, so that the aggregate consideration will consist of approximately 50% of Annaly’s common stock and approximately 50% in cash.
If you own common stock of MTGE and purchased any shares before May 3, 2018, if you would like to learn more about this investigation, or if you have any questions concerning this announcement or your rights or interests, please contact Seth D. Rigrodsky or Gina M. Serra at Rigrodsky & Long, P.A., 300 Delaware Avenue, Suite 1220, Wilmington, Delaware 19801, by telephone at (888) 969-4242, or by e-mail at info@rl-legal.com.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware, Garden City, New York, and San Francisco, California, has recovered hundreds of millions of dollars on behalf of investors and achieved substantial corporate governance reforms in numerous cases nationwide, including federal securities fraud actions, shareholder class actions, and shareholder derivative actions.
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