The Law Firm of Wohl & Fruchter Commences Investigation into Proposed Buyout
of CreXus Investment Corp. by Annaly Capital Management, Inc.
NEW YORK -- November 12, 2012
The law firm of Wohl & Fruchter LLP has commenced an investigation into the
offer extended by Annaly Capital Management, Inc. (Annaly) to acquire CreXus
Investment Corp. (CreXus) (NYSE: CXS).
Annaly currently owns about 12% of CreXus. On November 12, 2012, CreXus
announced that it had received a proposal from Annaly to acquire the remaining
shares of CreXus that Annaly does not already own for $12.50 per share in
cash, a premium of only 13% to CreXus’s closing price on Friday, November 9,
Annaly’s wholly owned subsidiary, Fixed Income Discount Advisory Co. (FIDAC)
manages CreXus, and two of FIDAC’s employees are on CreXus’ board of
Wohl & Fruchter’s investigation concerns the fairness of the buyout offer and
the process to be used by CreXus to evaluate the offer in light of the
conflicts of interest posed by Annaly’s existing ownership stake in CreXus and
FIDAC’s management of CreXus.
Additional information is available athttp://www.wohlfruchter.com/cases/cxs.
Persons with relevant information, and CreXus shareholders with questions
about this investigation, are invited to contact our Firm.
About Wohl & Fruchter
Wohl & Fruchter LLP represents plaintiffs in litigation arising from fraud and
other fiduciary breaches by corporate managers, as well as other complex
litigation matters. Please visit our website, www.wohlfruchter.com, to learn
more about our Firm, or contact one of our partners.
This release may be deemed to constitute attorney advertising.
Wohl & Fruchter LLP
J. Elazar Fruchter
845.425.4658 or Toll Free 866.582.8140
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