Forestar Group Inc. (NYSE:FOR) Investor Investigation Over Possible Breaches Of Fiduciary Duties In Acquisition Announced

If you purchased shares of Forestar Group Inc. (NYSE:FOR) and currently hold any of those NYSE:FOR shares, you have certain options and you should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this investigation, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Forestar Group
Affected Securities: 
NYSE: FOR

April 19, 2017 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of Forestar Group Inc. (NYSE:FOR), was announced concerning whether the takeover of Forestar Group Inc. by affiliates of Starwood Capital Group is unfair to NYSE:FOR stockholders.

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

On April 13, 2017, Forestar Group Inc. (NYSE:FOR) announced that it has entered into a merger agreement with affiliates of Starwood Capital Group under which Starwood Capital Group will acquire all of the outstanding shares of common stock of the Company for $14.25 per share in cash.

However, given that at least one analyst has set the high target price for NYSE:FOR shares at $16.00 per share, the investigation concerns whether the offer is unfair to NYSE:FOR stockholders. More specifically, the investigation concerns whether the Forestar Group 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.

Forestar Group Inc. reported that its annual Total Revenue declined from $218.58 million in 2015 to $197.31 million in 2016 and that its Net loss of $26.92 million in 2015 turned into a Net Income of $75.51 million in 2016.

Shares of Forestar Group Inc. (NYSE:FOR) reached as high as $24.00 per share in 2013.