Faruqi & Faruqi, LLP’s national practice focuses on complex civil litigation. The firm practices in the areas of Securities, Merger & Transactional, Shareholder Derivative, Antitrust, Consumer Class Action, and Wage & Hour litigation.
Monday, June 15, 2015
Faruqi & Faruqi Investigation: Ryland Group Inc.
RYLAND GROUP SHAREHOLDER NOTICE: Faruqi & Faruqi, LLP Announces the Investigation of Ryland Group, Inc. (RYL) Over the Proposed Sale of the Company to Standard Pacific Corporation
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Ryland Group, Inc. (“Ryland” or the “Company”) (NYSE: RYL) for potential breaches of fiduciary duties in connection with the sale of the Company to Standard Pacific Corp. for approximately $1 billion. Ryland shareholders will receive 1.0191 shares of Standard Pacific common stock for each share of Ryland common stock (which would be 5.0957 shares prior to giving effect to the Standard Pacific reverse stock split). Based on Standard Pacific’s closing price on June 12, 2015, that would be about $42.60 in value. However, at least one analyst has set a price target of $55.00 for the Company, and Ryland shares have traded as high as $49.66 over the past year.