NEW YORK, May 8, 2017 /PRNewswire/ -- WeissLaw LLP is
investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of Care Capital
Properties, Inc. ("CCP" or the "Company")(NYSE:CCP) in connection
with the proposed merger of the Company with Sabra Health Care
REIT, Inc. ("SBRA")(NASDAQ:SBRA). Under the terms of the
agreement, the Company's shareholders will receive 1.123 shares of
SBRA for each CCP share they own, representing consideration of
$29.96 based on SBRA's May 5 closing price.
WeissLaw is investigating whether CCP's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, at least one analyst set a target price of $32.00 per share. Additionally, on
May 1, 2017, just six short days
before the acquisition announcement, CCP announced the completion
of its purchase of six Behavioral Health Hospitals, a transaction
from which the Company anticipates the strengthening of its market
position, and an initial GAAP yield of approximately 8.7%.
Also, in recent financial disclosures, CCP beat revenue
expectations by $7.73 million,
reporting $90.4 million in total
revenue for the fourth quarter of 2016, reflecting an increase of
3.5% year-over-year.
Finally, according to Hilliards Lyons analyst John Roberts, CCP shareholders can expect a
17.1% decline in dividend yield, further noting that "the price
paid for CCP is below [Hilliard
Lyons'] estimate for fair value of the company."
Given these facts, WeissLaw is investigating whether CCP
shareholders will obtain their fair and proportionate share of the
Company's continued success and future growth prospects. If
you own CCP shares and would like more information about your
rights or our investigation, or if you have information to share
with us, please contact Joshua
Rubin by telephone at (888) 593-4771 or by
email at stockinfo@weisslawllp.com.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com or fill out the
form on our website,
http://www.weisslawllp.com/care-capital-properties-inc/
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/weisslaw-llp-the-care-capital-properties-inc-merger-may-not-be-in-the-best-interests-of-ccp-shareholders-300453462.html
SOURCE WeissLaw LLP