Fortress Investment Group LLC (NYSE:FIG) Investor Investigation Over Potential Wrongdoing In Acquisition Announced

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

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Company Name(s): 
Fortress Investment Group
Affected Securities: 

February 24, 2017 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of Fortress Investment Group LLC (NYSE:FIG), was announced concerning whether the takeover of Fortress Investment Group LLC. by SoftBank Group Corp is unfair to NYSE:FIG stockholders.

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

On February 14, 2017, SoftBank Group Corp. and Fortress Investment Group LLC (NYSE:FIG) announced that they have entered into a merger agreement under which SoftBank will acquire Fortress Investment Group LLC (NYSE:FIG) for approximately $3.3 billion in cash. Under the terms of the merger agreement each Fortress Investment Group LLC (NYSE:FIG) Class A shareholder will receive $8.08 per share. In addition, each Fortress Class A shareholder may receive up to two regular quarterly dividends prior to the closing, each in an amount not to exceed $0.09 per Class A Share.

However, given that certain Fortress Investment Group LLC Principals have already agreed to vote shares representing an aggregate of 34.99% of the outstanding Fortress Investment Group LLC voting shares held by them in favor of the transaction, the investigation concerns whether the offer is unfair to NYSE:FIG stockholders. More specifically, the investigation concerns whether the Fortress Investment 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.