Travel & Tourism Industry release:
NEW YORK, Feb. 14, 2018 /PRNewswire/ — WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Nationstar Mortgage Holdings Inc. (“NSM” or the “Company”) (NYSE: NSM) in connection with the proposed acquisition of the Company by WMIH Corp. (“WMIH”) (NASDAQ: WMIH). Under the terms of the acquisition agreement, the Company’s shareholders can elect to receive $18.00 in cash or 12.7793 shares of WMIH for each share of NSM. The latter represents consideration of $14.95 per NSM share, based on WMIH’s February 13 trading price of $1.17.
WeissLaw is investigating whether NSM’s Board acted to maximize shareholder value prior to entering into the agreement. Notably, NSM traded for $19.45, or $1.45 above the per-share cash offer and nearly $5.00 above the per-share consideration, recently as January 9. Additionally, at least one analyst set a target price of $23.00 per share.
Moreover, in its most recent financial release, the Company announced positive financial results. It reported originations GAAP pretax income of $45 million in the third quarter of 2017, a figure which “exceeded [NSM’s] target again  with funded volume increasing twenty percent,” according the Company’s CEO.
Given these facts, WeissLaw is investigating whether NSM’s shareholders will obtain their fair and proportionate share of the Company’s continued success and growth prospects. If you own NSM 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/nationstar-mortgage-holdings-inc/.
SOURCE WeissLaw LLP
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