STEVENSON, Md.--(BUSINESS WIRE)--
The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by the Board of Directors of American Farmland Company (NYSE MKT: AFCO) (“AFCO” or the “Company”) relating to the proposed buyout of AFCO by Farmland Partners Inc.
Under the terms of the agreement, AFCO shareholders are anticipated to receive 0.7417 shares of Farmland Partners for each share of AFCO common stock held. Based on the closing price of Farmland Partners Inc. stock on the day prior to the merger announcement, this represents a value of $8.23 per share.
The firm’s investigation seeks to determine, among other things, whether the Company’s Board of Directors failed to satisfy their duties to shareholders, including whether the Board adequately pursued alternatives to the acquisition and whether the Board obtained the best price possible for the Company’s shares of common stock. For example, according to Yahoo! Finance, at least one Wall Street analyst has issued a price target for AFCO stock at $9.00 per share.
If you currently own common stock of AFCO and believe that the proposed buyout price is too low, or you would like to learn more about the investigation being conducted by Brower Piven, please visit our website at http://www.browerpiven.com/currentinvestigations.html. You may also request more information by contacting Brower Piven either by email at [email protected] or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s.
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