Federman & Sherwood Announces Investigation of SFN Group, Inc.
22 Juillet 2011 - 9:01PM
Business Wire
The law firm of Federman & Sherwood has initiated an
investigation into Ft. Lauderdale-based SFN Group, Inc. (NYSE: SFN)
(“SFN Group”) with respect to possible breaches of fiduciary duty
by the company’s officers and directors, as well as violations of
state law, in connection with its proposed acquisition by Randstad
Holding nv (Euronext Amsterdam: RAND.AS) (“Randstad”).
On July 20, 2011, SFN Group announced that it had agreed to be
purchased and merge with Randstad, whereby Randstad would acquire
all outstanding shares of SFN Group’s common stock via an all cash
offer of $771 million (or $14.00 per outstanding share). Federman
& Sherwood is investigating whether the proposed merger makes
all necessary disclosures to stockholders, whether it offers
adequate long-term value to SFN Group’s shareholders, and whether
SFN Group could have received a higher valuation for its
shareholders had the officers and directors aggressively sought
other purchasers for the company, especially in light of the fact
that one analyst set a target price of $17.00 per share for SFN
Group stock, thereby depriving the SFN Group shareholders of any
premium if this transaction is approved. The deal is expected to
close in September, 2011, but still must be approved by a majority
of the shareholders.
If you currently own common stock in SFN Group, Inc., have
information to assist in our investigation, or have any questions
or concerns regarding this notice or preservation of your rights,
please contact William B. Federman. Federman & Sherwood has
extensive experience representing investors in securities,
derivative and merger-related shareholder class actions in state
and federal courts nationwide.
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