CreXus Investor Alert: Briscoe Law Firm and Powers Taylor, LLP Investigate
Proposed Acquisition by Annaly Capital
DALLAS -- November 13, 2012
Former United States Securities and Exchange Commission attorney Willie
Briscoe and the securities litigation firm of Powers Taylor, LLP are
investigating the proposed sale of CreXus Investment Corp. (“CreXus”) (NYSE:
CXS) to Annaly Capital Management, Inc. for shareholders. Yesterday, Annaly
Capital offered to purchase 87.6% of CreXus (which represents the shares not
currently owned by Annaly Capital) in a deal valued at approximately $839
million. Under the proposed terms, CreXus shareholders will only receive
$12.50 for each share of CreXus stock.
If you are an affected investor, and you want to learn more about the lawsuit
or join the action, contact Patrick Powers at Powers Taylor, LLP, toll free
(877) 728-9607, via e-mail at email@example.com, or Willie Briscoe at
The Briscoe Law Firm, PLLC, (214) 706-9314, or via email at
WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.
The CreXus merger investigation centers on whether CreXus shareholders will
receive adequate compensation for their shares in the proposed buyout, whether
the transaction undervalues CreXus stock, and whether CreXus’ board is
attempting to obtain the highest share price for all shareholders prior to
agreeing to the deal. Shareholder rights attorney Willie Briscoe stated that
“Based upon the strong financial performance of CreXus, the size of the deal,
Annaly Capital’s relationship to the company, and other factors, we believe
that the transaction may undervalue CreXus stock. Our proposed lawsuit will
seek to ensure that shareholders receive the highest possible share price for
The Briscoe Law Firm, PLLC is a full service business litigation and
shareholder rights advocacy firm with more than 20 years of experience in
complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that handles a variety of
complex business litigation matters, including claims of investor and
stockholder fraud, shareholder oppression, shareholder derivative suits, and
security class actions.
Powers Taylor, LLP
Patrick Powers, 877-728-9607
The Briscoe Law Firm, PLLC
Willie Briscoe, 214-706-9314
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