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 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/silver-bay-realty-trust-corp/