SAN DIEGO, June 18, 2018 /PRNewswire/ -- Shareholder
rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Nationstar Mortgage Holdings
Inc. (NYSE: NSM) ("Nationstar") breached their fiduciary duties in connection with the proposed sale of the Company to WMIH Corp.
(NASDAQ: WMIH) ("WMIH").
On February 13, 2018, Nationstar announced that it had signed a definitive merger agreement with
WMIH. Under the terms of the agreement, Nationstar shareholders may elect to receive $18.00 in cash
or 12.7793 shares of WMIH common stock for each share of Nationstar common stock they own, subject to an overall proration to
ensure that 32% of the total outstanding Nationstar shares are exchanged for the stock consideration. Upon completion of the
transaction, Nationstar shareholders will own approximately 36% of the combined company, and WMIH shareholders will own
approximately 64%.
The investigation concerns whether the Nationstar 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
Nationstar shares of common stock. Nationally recognized Johnson Fistel is investigating
whether the proposed deal represents adequate consideration, especially given the Company's projected revenue and earnings growth
and one Wall Street analyst has a $23.00 price target on the stock. The 52-week
high for Nationstar was $20.71.
A shareholder vote has been set for June 29, 2018 , if you are a
shareholder of Nationstar 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
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SOURCE Johnson Fistel, LLP