SAN DIEGO, CA (Shareholders Foundation) Investigations on behalf of current investors of First Advantage Corporation (Public, NASDAQ:FADV) over potential breaches of fiduciary duty and other violations of state law in connection with an alleged unfair takeover price were announced.

The investigations by a law firms focuses on potential breaches of fiduciary duty and other violations of state law by the Board of Directors of First Advantage Corporation (Public, NASDAQ:FADV) arising out of their attempt to sell First Advantage to First American Corporation. The First American Corporation (NYSE: FAF), America's largest provider of business information, announced on Monday, June 29, 2009, that it has made an offer to acquire the remaining shares of its 74%owned subsidiary, First Advantage Corporation (Nasdaq: FADV). Under the terms of the offer, First Advantage's shareholders would receive, at a fixed exchange ratio, 0.5375 of a share of First American common stock for each share of First Advantage common stock. The proposed exchange ratio represents an offer price of $14.04 per share and a 10.2 percent premium to First Advantage's stock price, based on First American's and First Advantage's closing stock prices on Friday, June 26, 2009.

But according to the investigations the transaction appears to be unfair to current investors of First Advantage Corporation (Public, NASDAQ:FADV) and the offer appears opportunistically timed to take advantage of the current economic downturn. Therefore the investigation primarily focuses on whether Board of Directors of First Advantage Corp fulfilled their fiduciary duties to maximize shareholder value in connection with the proposal.

The offer values First Advantage at $837 million. Since First American already owns approximately 74% of Frist Advantage the remaining value for First American to takeover First Advantage is with 59.76million shares in total presently with 15.5376million shares (26%remaining outstanding shares) at $14.04 per share $218.148million. First Advantage said the offer is being reviewed by a committee of independent directors. Shares of First Advantage increased after the announcement and closed with $150.7 per share, significantly higher then the proposed takeover price. Shares of First Advantage Corp reached a 52weekHigh of $18.75 per share, $22.37 per share in April 2008, and $26.78 per share in 2007. First Advantage Corporation is located in St. Petersburg, Florida and is an international provider of risk mitigation and business solutions. First Advantage operates in six primary business segments: Lender Services, Data Services, Dealer Services, Employer Services, Multifamily Services, and Investigative and Litigation Support Services. First Advantage reported $824.27million in Total Revenue with a net income of $138.11million in 2007 and $779.96million in Total Revenue with a net income of $34.86million in 2008.