From the Wires
Law Office of Brodsky & Smith, LLC Announces Investigation of CreXus Investment Corporation
By: PR Newswire
Nov. 13, 2012 10:01 PM
BALA CYNWYD, Pa., Nov. 13, 2012 /PRNewswire/ -- Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of CreXus Investment Corporation ("CreXus" or the "Company") (NYSE: CXS) relating to the proposed acquisition by Annaly Capital Management ("Annaly Capital").
Under the terms of the transaction, CreXus shareholders will receive only $12.50 in cash for each share of CreXus stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of CreXus for not acting in the Company's shareholders' best interests in connection with the sale process to Annaly Capital. The transaction may undervalue the Company and will result in no substantial gain or even a loss for many CreXus shareholders. For example CreXus stock traded at $13.46 on January 27, 2011. In addition, the investigation seeks to determine if conflicts of interest played a role in the transaction as two employees of a wholly owned subsidiary of Annaly Capital are on the CreXus Board of Directors.
If you own shares of CreXus stock and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at firstname.lastname@example.org visiting http://brodsky-smith.com/505-cxs-crexus-investment-corporation.html, by calling toll free 877-LEGAL-90.
SOURCE Brodsky & Smith, LLC
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