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If you purchased shares of Genworth Financial Inc (NYSE:GNW) and currently hold any of those NYSE:GNW shares, you have certain options and you should contact the Shareholders Foundation, Inc.
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To have your information reviewed for options and to receive notifications about this investigation, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Investigation Overview
October 24, 2016 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of Genworth Financial Inc (NYSE:GNW), was announced concerning whether the takeover of Genworth Financial Inc. by China Oceanwide Holdings Group Co., Ltd for $5.43 per share is unfair to NYSE:GNW stockholders.
The investigation by a law firm concerns whether certain officers and directors of Genworth Financial Inc breached their fiduciary duties owed to NYSE:GNW investors in connection with the proposed acquisition.
On October 23, 2016, China Oceanwide Holdings Group Co., Ltd. and Genworth Financial Inc (NYSE:GNW) announced that they have entered into an agreement under which China Oceanwide Holdings Group Co., Ltd has agreed to acquire all of the outstanding shares of Genworth Financial Inc (NYSE:GNW) for a total transaction value of approximately $2.7 billion, or $5.43 per share in cash.
However, the investigation concerns whether the offer is unfair to NYSE:GNW stockholders. More specifically, the investigation concerns whether the Genworth Financial Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
Shares of Genworth Financial Inc (NYSE:GNW) reached as high as $18.22 per share in May 2014.
