AV Homes (AVHI) Alert: Johnson Fistel Investigates Proposed Sale of AV Homes, Inc.; Are Shareholders Getting a Fair Price?
SAN DIEGO- PRNewswire — June 7, 2018
Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of AV Homes, Inc. (NASDAQ: AVHI) (“AV Homes”) breached their fiduciary duties in connection with the proposed sale of the Company to Taylor Morrison Home Corporation (NYSE: TMHC) (“Taylor Morrison”). AV Homes engages in the homebuilding and community development businesses in Florida, the Carolinas, Arizona, and Texas markets.
On June 7, 2018, AV Homes announced that it had signed a definitive merger agreement with Taylor Morrison. Under the terms of the agreement, AV Homes shareholders would receive $21.50 in cash for each share of AV Homes common stock.
The investigation concerns whether the AV Homes board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for AV Homes shares of common stock.
Nationally recognized Johnson Fistel is investigating whether the proposed deal represents adequate consideration, especially given Company’s strong balance sheet, and projected revenue and earnings growth.
If you are a shareholder of AV Homes and believe the proposed buyout price is too low or you’re interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (jimb@johnsonfistel.com) at 619-814-4471. If emailing, please include a phone number.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com