Wednesday, December 23, 2015

Faruqi & Faruqi Investigation: Northern Tier Energy LP


The Company’s stockholders will only receive $15.00 in cash and 0.2986 shares of Western Refining common stock for each share of Company common stock they own, or approximately $25.99 per share. However, the offer is below at least one analyst’s price target of $34.00 per share.
Do not hesitate to contact Faruqi & Faruqi Law to find out your rights. If you own common stock in Northern Tier and wish to obtain additional information and protect your investments free of charge, please contact Juan Monteverde, Esq. at Faruqi & Faruqi Law either via e-mail at jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or (212) 983-9330. 

Tuesday, December 22, 2015

Faruqi & Faruqi Investigation: Heartland Payment Systems, Inc.


The Company’s stockholders will only receive $53.28 in cash and 0.6687 shares of Global Payments or approximately $94.83 for each share of Heartland common stock they own.
The investigation focuses on whether Heartland’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct a fair sales process and whether and by how much this proposed transaction undervalues the Company to the detriment of Heartland’s shareholders.
If you own common stock in Heartland and wish to obtain additional information and protect your investments free of charge, please fill out the form below or contact Juan Monteverde, Esq. either via e-mail at jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or (212) 983-9330.

Faruqi & Faruqi Investigation: Inland Real Estate Corporation


The Company’s stockholders will only receive $10.60 per share in cash for each share of Company common stock they own. However, the offer is below at least one analyst’s price target of $12.00 per share and the 52-week high of $11.73 per share.
If you own common stock in IRC and wish to obtain additional information and protect your investments free of charge, please contact Juan Monteverde, Esq. either via e-mail at jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or (212) 983-9330. 

Friday, December 18, 2015

Faruqi & Faruqi Case: Hutchinson Technology Incorporated


Notice is hereby given that Faruqi & Faruqi, LLP has filed a class action lawsuit in the United States District Court for the District of Minnesota, case no. 0:15-cv-04261, on behalf of unitholders of Hutchinson Technology Incorporated (“Hutchinson” or the “Company”) (NasdaqGS: HTCH) who held (and continue to hold) Hutchinson securities acquired on or before November 2, 2015.
On November 2, 2015, the Company entered into a Purchase Agreement and Plan of Merger (“Merger Agreement”) under which TDK Corporation (“TDK”) will acquire all of the outstanding units of Hutchinson through a newly formed subsidiary of Hydra Merger Sub, Inc. The unit-for-unit transaction is valued at approximately $221 million. The transaction and vote are expected to occur in the first quarter of 2016.
The complaint charges Hutchinson Technology Incorporated, its Board of Directors, and affiliated corporate entities and individuals with violations of Sections 14(a) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”).
Pursuant to the terms of the Merger Agreement, which was unanimously approved by the Company’s Board of Directors (the “Board” or “Individual Defendants”), Hutchinson unitholders will receive $3.62 in cash per share and up to an additional $0.38 in cash under certain circumstances for each unit of Hutchinson they own. $3.62 per share However, the offer is 40% less than the $6.00 per share price target analysts at Craig-Hallum Capital Group LLC issued as recently as April 2015. The offer is also significantly below Hutchinson’s 52-week high stock price of $4.50 per share.
Furthermore, according to the complaint, the Merger Agreement includes a non-solicitation and matching rights provisions which essentially ensure that a superior bidder will not emerge, as any potential suitor will undoubtedly be deterred from expending the time, cost, and effort of making a superior proposal while knowing that TDK can easily foreclose a competing bid.
The complaint also alleges that the preliminary proxy statement (the “Proxy”) filed with the Securities and Exchange Commission (“SEC”) on November 23, 2015 provided materially incomplete and misleading disclosures, thereby violating Sections 14(a) and 20(a) of the Exchange Act. The Proxy denies Hutchinson’s unitholders material information concerning the financial and procedural fairness of the Merger.

Wednesday, December 16, 2015

Faruqi & Faruqi Case: Avalanche Biotechnologies, Inc.


December 16, 2015, District Court Judge James Donato of the United States District Court for the Northern District of California appointed Faruqi & Faruqi, LLP to serve as Lead Counsel in consolidated action In re Avalanche Biotechnologies, Inc., Sec. Litig., Case No. 3:15-cv-03185-JD.
If you purchased shares pursuant to Avalanche Biotechnologies, Inc.’s (“Avalanche”) initial public offering on or about July 31, 2014, pursuant to Avalanche’s secondary offering on or about January 13, 2015, and/or in the open market between July 31, 2014 and June 15, 2015, both dates inclusive, please contact the firm to discuss this matter with us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com

Faruqi & Faruqi Investigation: Jarden Corp.


The Company’s stockholders will only receive $21.00 in cash and 0.862 shares of Newell Rubbermaid Inc. stock for each share of Company common stock they own, or approximately $59.04 per share. However, the offer is below at least one analyst’s target price of $65.00 per share.
If you own common stock in Jarden and wish to obtain additional information and protect your investments free of charge, please contact Juan Monteverde, Esq. either via e-mail at jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or (212) 983-9330. 

Thursday, December 10, 2015

Faruqi & Faruqi Investigation: Jiayuan.com International Ltd.


Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Jiayuan.com International Ltd. (“Jiayuan.com” or the “Company”) (NasdaqGS:DATE) for potential breaches of fiduciary duties in connection with the sale of the Company to LoveWorld Inc. for approximately $231.42 million. 
The Company’s stockholders will only receive $7.56 in cash per American depositary share (“ADS”) they own. However, at least one analyst has set a price target for Jiayuan.com at $8.00 per ADS.
If you own common stock in Jiayuan.com and wish to obtain additional information and protect your investments free of charge, please fill out the form below or contact Juan Monteverde, Esq. either via e-mail at jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or (212) 983-9330. 

Faruqi & Faruqi Investigation: Homeinns Hotel Group

The Company’s stockholders will only receive $35.80 in cash per American depositary share (“ADS”) they own. However, at least one analyst has set a price target for Homeinns at $39.79 per ADS.
If you own common stock in Homeinns and wish to obtain additional information and protect your investments free of charge, please contact Juan Monteverde, Esq. either via e-mail at jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or (212) 983-9330.

Monday, December 7, 2015

Faruqi & Faruqi Investigation: Pulaski Financial Corp.


The Company’s stockholders will only receive 0.79 shares of common stock of First Busey for each share of Company common stock, or $17.24 per share. However, the offer provides virtually zero premium and Pulaski stock traded at $17.25, above the merger consideration, on December 2, 2015.
If you own common stock in Company and wish to obtain additional information and protect your investments free of charge, please fill out the form below or contact Juan Monteverde, Esq. either via e-mail at jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or (212) 983-9330. 

Faruqi & Faruqi Investigation: Mattson Technology Inc.


The Company’s stockholders will only receive $3.80 per share in cash for each share of Company common stock they own. However the offer might not be adequate since Mattson has traded as high as $5.10 per share as recently as March 3, 2015.

Faruqi & Faruqi Investigation: American Residential Properties, Inc.


The Company’s stockholders will only receive 1.135 common shares of American Homes 4 Rent for each share of Company common stock they own, or approximately $18.18 per share. However, the offer represents virtually no premium over the 52-week high and significantly lower than at least one analyst’s estimated value of $23.00 per share.