An investigation on behalf of investors, who currently hold shares of La Quinta Holdings Inc (NYSE:LQ), was announced concerning whether the takeover of La Quinta Holdings Inc by Wyndham Worldwide Corporation is unfair to NYSE:LQ stockholders.

The investigation by a law firm concerns whether certain officers and directors of La Quinta Holdings Inc breached their fiduciary duties owed to NYSE:LQ investors in connection with the proposed acquisition.

On January 18, 2018, Wyndham Worldwide Corporation (NYSE: WYN) and La Quinta Holdings Inc. (NYSE: LQ) announced that they have entered into an agreement under which Wyndham Worldwide will acquire La Quinta's hotel franchise and hotel management businesses for $1.95 billion in cash. Under the terms of the agreement, stockholders of La Quinta will receive $8.40 per share in cash (approximately $1.0 billion in aggregate), and Wyndham Worldwide will repay approximately $715 million of La Quinta debt net of cash and set aside a reserve of $240 million for estimated taxes expected to be incurred in connection with the taxable spin-off of La Quinta's owned real estate assets into CorePoint Lodging Inc.

However, given that at least one analyst has set the high target price for NYSE: LQ shares at $23.00 per share, the investigation concerns whether the offer is unfair to La Quinta Holdings Inc (NYSE:LQ stockholders. More specifically, the investigation concerns whether the La Quinta Holdings Inc (NYSE:LQ 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.

On February 12, 2018, La Quinta Holdings Inc (NYSE:LQ) shares closed at $18.66 per share.