NEW YORK, March 1, 2017 /PRNewswire/ -- WeissLaw LLP is
investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of Silver Bay Realty
Trust Corp (NYSE: SBY) ("SBY" or the "Company") in connection with
the proposed acquisition of the Company by Tricon Capital Group
Inc. ("Tricon") for approximately $1.4
billion. Under the terms of the agreement, the
Company's shareholders will receive $21.50 in cash for each SBY share they own.
WeissLaw is investigating whether SBY's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, at least one analyst set a target price of $22.00, or $0.50
above the per share consideration. Additionally, the Company
recently announced positive financial results. It reported
total revenue of $32.5 million in the
fourth quarter of 2016, representing an increase of 5.9%
year-over-year when compared to the $30.6
million reported in the same period of the previous
year. SBY also reported total revenue of $126.6 million in the fiscal year ended
December 31, 2016, representing
growth of 11.4% year-over-year when compared to the $113.7 million reported in the previous
year.
Given these facts, WeissLaw is investigating whether SBY's Board
acted in the best interests of SBY's public shareholders to
maximize shareholder value prior to entering into the
agreement. If you own SBY 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/silver-bay-realty-trust-corp/
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SOURCE WeissLaw LLP