The investigation will be led by securities lawyer Hamilton Lindley.
“We are investigating the deal because it appears that the value of the Pheonix’s stock is greater than $3.85 per share offered and because at least one analyst believes the stock to be worth approximately $4 per share,” Lindley said. “Our class action lawsuit will seek to increase the value of the buyout and disclose more information – so shareholders can make an informed decision.
Goldfarb Branham LLP has extensive experience dealing with unfair buyouts across the country.