NEW YORK--(BUSINESS WIRE)--The Law Offices of Vincent Wong are investigating the Board of Directors of CalAtlantic Group Inc. (NYSE:CAA) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Lennar Corp. (NYSE:LEN). Under the terms of the deal, CalAtlantic shareholders may elect to receive cash, stock, or a combination of cash and stock for their shares. In particular, each CalAtlantic share will be exchanged for 0.885 shares of Lennar Class A common stock (for an approximate value of $51.34 per share) or $48.26 in cash, subject to a maximum cash amount of approximately $1.2 billion.
The investigation concerns whether the CalAtlantic Board of Directors breached their fiduciary duties to CalAtlantic stockholders by failing to adequately shop the Company before entering into this transaction and whether Lennar Corp. is underpaying for CalAtlantic shares, thus unlawfully harming CalAtlantic stockholders.
If you own common stock in CalAtlantic and wish to obtain additional information, please contact Vincent Wong, Esq. either via email email@example.com, by telephone at 212.425.1140, or http://docs.wongesq.com/CAA-Info-Request-Form-1725.
Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.