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WILMINGTON, Del., April 15, 2019 (GLOBE NEWSWIRE) -- Rigrodsky & Long, P.A.:
Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of HomeFed Corporation (“HomeFed” or the “Company”) (OTC QB: HOFD) regarding possible breaches of fiduciary duties and other violations of law related to the Company’s entry into an agreement to be acquired by Jefferies Financial Group, Inc. (“Jefferies”) (NYSE: JEF).
Under the terms of the agreement, shareholders of HomeFed will be given the right to elect to receive either cash or shares of Jefferies common stock in exchange for their HomeFed shares. If a HomeFed stockholder elects to receive cash, that stockholder will receive $38.00 in cash for each share of HomeFed common stock. If a HomeFed stockholder elects to receive shares of Jefferies’ common stock and the Jefferies average share price is equal to or less than $21.00 per share, that stockholder will receive two shares of Jefferies common stock for each share of HomeFed common stock. If a HomeFed Stockholder elects to receive shares of Jefferies’ common stock and the Jefferies average share price is more than $21.00 per share, that stockholder will receive less than two shares of Jefferies common stock for each share of HomeFed common stock, with the exchange ratio being calculated by dividing $42.00 by the Jefferies average share price.
If you own common stock of HomeFed and purchased any shares before April 15, 2019, if you would like to learn more about this investigation, or if you have any questions concerning this announcement or your rights or interests, please contact Seth D. Rigrodsky or Gina M. Serra toll-free at (888) 969-4242, by e-mail at email@example.com, or at https://www.rigrodskylong.com/offices-contact.
Rigrodsky & Long, P.A., with offices in Delaware, New York, and California, has recovered hundreds of millions of dollars on behalf of investors and achieved substantial corporate governance reforms in numerous cases nationwide, including federal securities fraud actions, shareholder class actions, and shareholder derivative actions.
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