NEW YORK, Oct. 31, 2017 /PRNewswire/ — WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of CalAtlantic Group, Inc. (“CAA” or the “Company”) (NYSE: CAA) in connection with the proposed acquisition of the Company by Lennar Corp. (“LEN”) (NYSE: LEN) in a transaction valued at approximately $9.3 billion. Under the terms of the acquisition agreement, the Company’s shareholders can elect to exchange all or a portion of their shares for $48.26 in cash, or reserve the right to receive 0.885 of a share of LEN Class A common stock for each CAA share they own, representing consideration of $49.27 based on LEN’s October 30 closing price.
WeissLaw is investigating whether CAA’s Board acted to maximize shareholder value prior to entering into the agreement. Notably, at least one analyst set a target price of $51.00. Moreover, upon closing, shareholders of CAA will own a meager 26% of the combined company.
Given these facts, WeissLaw is investigating whether CAA’s shareholders will obtain their fair and proportionate share of the Company’s continued success and future growth prospects. If you own CAA shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at firstname.lastname@example.org.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at email@example.com or fill out the form on our website, http://www.weisslawllp.com/calatlantic-group-inc/
SOURCE WeissLaw LLP