Lender Processing Services Shareholder Alert: Briscoe Law Firm and Powers Taylor, LLP Investigate Sa
May 28th 2013 10:50AM
Updated May 28th 2013 11:05AM
Lender Processing Services Shareholder Alert: Briscoe Law Firm and Powers Taylor, LLP Investigate Sale to Fidelity National Financial
DALLAS--(BUSINESS WIRE)-- Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP are investigating the sale of Lender Processing Services, Inc. ("LPS") (NYS: LPS) to Fidelity National Financial, Inc. Under the terms of the proposed cash and stock deal valued at approximately $2.9 billion, LPS shareholders will receive consideration of $33.25 for each share of LPS stock owned, well below at least one analyst's estimated value of $36.00 per share.
If you are an affected investor, and you want to learn more about the lawsuit or join the action, please contact Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 239-4568, via email at WBriscoe@TheBriscoeLawFirm.com or Zach Groover at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at email@example.com. There is no cost or fee to you.
The LPS sale investigation centers on whether LPS's shareholders are receiving adequate compensation for their shares in the proposed deal, whether the transaction undervalues LPS's stock, and whether LPS's board attempted to obtain the highest share price for all shareholders prior to agreeing to the deal. Notably, at least one analyst with Yahoo! Finance estimates that the true inherent value of LPS stock could be as high as $36.00 per share. According to shareholder rights attorney Willie Briscoe, "due to analyst estimates, the size of the deal, the lack of a significant premium and other factors, we believe this transaction may undervalue LPS's stock. Our proposed lawsuit will seek to obtain the highest share price for all shareholders."
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.
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