Law Firm Kirby McInerney LLP Investigating Potential Claims on Behalf of
CreXus Investment Corp. Shareholders
NEW YORK -- November 12, 2012
Kirby McInerney LLP is investigating potential claims against the Board of
Directors of CreXus Investment Corp. (“CreXus” or the “Company”) (NYSE:CXS)
related to the proposed acquisition of the Company by Annaly Capital
Management (“Annaly Capital”) (NYSE:NLY). Under the terms of the agreement,
Annaly Capital will acquire all of the shares of CreXus that it does not
already own for $12.50 per share, or approximately $839 million.
The investigation concerns whether the CreXus Board of Directors violated its
fiduciary duties by agreeing to this transaction and whether the proposed
$12.50 per share consideration adequately values CreXus common shares. Annaly
Capital already owns approximately 12.4% of the Company’s outstanding shares.
Further, Fixed Income Discount Advisory Company (“FIDAC”), a wholly owned
subsidiary of Annaly Capital, manages CreXus and two FIDAC employees are on
the CreXus Board of Directors. The transaction is only a 13% premium to the
Company’s closing price the day before the transaction was announced, and only
a 5% premium to the Company’s book value per share.
If you are a CreXus shareholder and wish to obtain additional information,
please contact J.Brandon Walker, Esq. by email at firstname.lastname@example.org, or by
telephone at (212) 699-1145 or (888) 529-4787.
Kirby McInerney LLP is a New York-based law firm concentrating in securities,
shareholder, whistleblower, antitrust and consumer litigation. For additional
information, please go to www.kmslaw.com.
Kirby McInerney LLP
J.Brandon Walker, Esq.
212-699-1145 or 888-529-4787
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