SCULPTOR CAPITAL MANAGEMENT (SCU): Company Merger Investigated by the Portnoy Law Firm
Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, Sept. 07, 2023 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Sculptor Capital Management, Inc. (NYSE:SCU) ("Sculptor Capital" or the "Company") investors that the firm has initiated an investigation into a potential breach of fiduciary duty claims against the Board of Directors of Sculptor Capital Management and may file a lawsuit on behalf of investors. Sculptor Capital investors are encouraged to contact Lesley Portnoy, Esq.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: [email protected], to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors' options for pursuing claims to recover their losses.
On July 24, 2023, Sculptor Capital and Rithm Capital Corp. ("Rithm"), announced plans for a merger of the two entities. According to our investigation the merger appears to contain unresolved conflicts of interest, thereby rendering the entire process and evaluation unjust. As an example, certain insiders of Sculptor Capital, are transferring a portion of their equity into the combined company. Meanwhile, Sculptor Capital's public shareholders are only receiving $11.15 per share in cash, without any potential for additional benefits from the merged entity. In fact, the $11.15 per share compensation represents a 2.19% discount compared to the company's 52-week high of $11.40 per share. Furthermore, the $11.15 per share price falls below the $14.00 per share target price established by Credit Suisse on May 4, 2023, just a few months before the merger announcement.
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The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm's founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
[email protected]
310-692-8883
www.portnoylaw.com
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