Stonegate Mortgage Corporation
STONEGATE MORTGAGE CORPORATION (SGM) SHAREHOLDER ALERT - Andrews & Springer LLC Is Seeking More Cash for Shareholders of Stonegate Mortgage Corporation
(Wilmington, DE) Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, is investigating potential breach of fiduciary duty claims against the Board of Directors of Stonegate Mortgage Corporation (NYSE: SGM) (“Stonegate Mortgage” or the “Company”) relating to the sale of the Company to Home Point Financial Corporation (“Home Point”). On January 27, 2017, the two parties announced the signing of a definitive merger agreement pursuant to which Home Point will acquire Stonegate Mortgage in a merger worth $211 million. As a result of the merger, Stonegate Mortgage shareholders are only anticipated to receive $8.00 per share in cash in exchange for each share of Stonegate Mortgage.
Our Firm's investigation so far has discovered that the process leading up to the announcement of the merger appears to have significant conflicts of interest, thus making the process and consideration unfair.
Andrews & Springer is investigating whether Stonegate Mortgage’s directors are breaching their fiduciary duties by failing to adequately shop the company and maximize shareholder value. Our firm is also investigating the Company's financial advisors, Barclays and FBR Capital Markets & Co., and whether they conducted a fair sales process.