SAN DIEGO--(BUSINESS WIRE)--Shareholder Rights Law Firm Johnson & Weaver, LLP is investigating whether members of the board of directors of Duff & Phelps (NYSE: DUF) breached their fiduciary duties in connection with the proposed acquisition by a group of investors and certain Duff & Phelps officers. The investor group is comprised of The Carlyle Group, Stone Point Capital, Pictet & Cie and Edmond de Rothschild Group.
“The investor group’s offer appears to be lower than I would expect based on market valuation.”
On December 31, 2012, the investor group announced that they had entered into definitive merger agreements to acquire DUF for $15.55 a share.
The investigation will determine whether DUF’s Board of Directors breached their fiduciary duties to stockholders by failing to satisfactorily shop the Company before entering into this agreement. One analyst’s price target for DUF stock is $24.00 per share which is nearly 36% higher than the $15.50 offered by the investor group. Jim Baker, lead analyst for Johnson & Weaver, stated that, “The investor group’s offer appears to be lower than I would expect based on market valuation.” Baker continued, “Duff and Phelps’ stock trades at a relatively low PE ratio and revenues and earnings are expected to grow substantially next year.”
If you are a DUF shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact attorney Brett Weaver (email@example.com) at 619-230-0063.
Johnson & Weaver, LLP is a nationally recognized shareholders’ rights law firm. 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.johnsonandweaver.com.