Shareholder rights law firm Johnson & Weaver, LLP has launched an
investigation into whether the board members of Paramount Gold and
Silver Corp. (NYSE: PZG), breached their fiduciary duties in connection
with the proposed sale of the company to Coeur Mining, Inc.
Additional Information:
Paramount Gold and Silver Corp., an exploration stage company, acquires,
explores, and develops gold, silver, and precious metal properties.
On December 16, 2014, Paramount and Coeur Mining entered into an
agreement whereby Coeur Mining will acquire Paramount. Under the terms
of the transaction, Paramount stockholders will receive: 0.2016 Coeur
shares per Paramount share, a $0.90 implied value. Prior to the merger
close Paramount will spin off its non-Mexican assets and liabilities to
a newly formed Company, (“SpinCo”), which is expected to apply for
listing on the NYSE MKT or the Toronto Stock Exchange. Paramount
stockholders will receive a pro rata share of the 95.1% of SpinCo
shares. Coeur will provide $10 million in cash to SpinCo and receive a
4.9% common share interest.
The investigation concerns whether Paramount’s board failed to satisfy
their duties to the company’s shareholders, including whether the board
adequately pursued alternatives to the acquisition and whether the board
obtained the best price possible for the Company’s shares of common
stock.
If you are a shareholder of Paramount and believe (1) the proposed
buyout price is too low and (2) you’re interested in learning more about
the investigation or your legal rights and remedies, please contact
lead analyst Jim Baker (jimb@johnsonandweaver.com)
at 619-814-4471.
About Johnson & Weaver, LLP:
Johnson & Weaver, 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.johnsonandweaver.com.
Attorney advertising. Past results do not guarantee future outcomes.
Copyright Business Wire 2014