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”) in connection with the proposed merger of the Company with Sabra Health Care REIT, Inc. (“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 firstname.lastname@example.org.
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 email@example.com or fill out the form on our website, http://www.weisslawllp.com/care-capital-properties-inc/