NEW YORK, Nov. 8, 2021 /PRNewswire/ — WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of CorePoint Lodging Inc. («CorePoint» or the «Company») (NYSE: CPLG), in connection with the proposed acquisition of the Company through a joint venture between affiliates of Highgate and Cerberus Capital Management, L.P. («Cerberus»). Under the terms of the merger agreement, the Company’s shareholders will receive $15.65 per share in cash for each share of CorePoint common stock that they hold. The all-cash transaction is valued at approximately $1.5 billion.
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WeissLaw LLP is investigating whether (i) CorePoint’s board of directors acted in the best interests of Company shareholders in agreeing to the proposed transaction, (ii) the $15.65 per-share merger consideration adequately compensates CorePoint’s shareholders, and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed. Notably, the merger consideration is below the $20.00 median price target set by analysts following the Company, $4.35 above the per-share merger consideration.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at email@example.com
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SOURCE WeissLaw LLP