INVESTOR ALERT: Brower Piven Commences An Investigation Into The Proposed Sale Of WCI Communities, Inc. And Encourages
Shareholders To Contact The Firm For Additional Information
The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible
breaches of fiduciary duty and other violations of state law by the Board of Directors of WCI Communities, Inc. (NYSE: WCIC)
(“WCI” or the “Company”) relating to the proposed buyout of WCI by Lennar Corporation.
Under the terms of the agreement, WCI shareholders are anticipated to receive $11.75 in cash and a fraction of a share of Lennar
Class A common stock with a value of $11.75, based on the volume weighted average price of Lennar’s Class A common stock on the New
York Stock Exchange over the ten trading days preceding the WCI stockholder vote on the merger. The transaction may undervalue
the Company and would result in no real gain or a loss for many WCI shareholders, especially given that the Company’s 52-week high
is $25.00 per share.
The firm’s investigation seeks to determine, among other things, whether the Company’s Board of Directors failed to satisfy
their duties to 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. For example, according to Yahoo! Finance, at
least one Wall Street analyst has issued a price target for WCI stock at $25.00 per share.
If you currently own common stock of WCI and believe that the proposed buyout price is too low, or you would like to learn more
about the investigation being conducted by Brower Piven, please visit our website at http://www.browerpiven.com/currentinvestigations.html. You may also request more information by contacting
Brower Piven either by email at hoffman@browerpiven.com or by telephone
at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been
advocating for the rights of shareholders since the 1980s.
Brower Piven, A Professional Corporation
Charles J. Piven, 410-415-6616
1925 Old Valley Road
Stevenson, Maryland 21153
hoffman@browerpiven.com
View source version on businesswire.com: http://www.businesswire.com/news/home/20160930005762/en/