SHAREHOLDER ALERT: Brodsky & Smith, LLC Announces an Investigation of The Board of Directors of Stonegate Mortgage Corporation -SGM
BALA CYNWYD, January 27, 2017 (PR Newswire) – Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Stonegate Mortgage Corporation (“Stonegate” or “the Company”) (NYSE- SGM-News) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Home Point Financial Corporation (“Home Point”).
Under the terms of the transaction, Stonegate common shareholders will receive only $8.00 in cash for each share of Stonegate stock they own. The investigation concerns whether the Board of Stonegate breached their fiduciary duties to shareholders and whether Home Point is underpaying for the Company. The transaction may undervalue the Company and would result in a loss for many Stonegate shareholders. For example, shares of Stonegate stock traded at $11.56 per share on April 16, 2015.
If you own shares of Stonegate stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 510, Bala Cynwyd, PA 19004, or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.