NEW YORK, March 5, 2018 /PRNewswire/ -- WeissLaw LLP
is investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of PHH Corporation
("PHH" or the "Company") (NYSE: PHH) in connection with the
proposed acquisition of the Company by Ocwen Financial Corporation
("OCN"). Under the terms of the acquisition agreement, the
Company's shareholders will receive $11.00 in cash for each PHH share they own.
WeissLaw is investigating whether PHH's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, PHH shares traded above the offer price as recently as
December, peaking in August of last year when they traded for
$15.00, or $4.00 above the offer price. Moreover, the
Company recently announced net revenues of $109 million in the three months ended
December 31, 2017. This
reflects an increase of $37 million
year-over-year when compared to the $72
million reported in the same period of the previous
year.
Given these facts, WeissLaw is investigating whether PHH's Board
acted in the best interests of PHH's public shareholders to
maximize shareholder value prior to entering into the
agreement. If you own PHH shares and would like more
information about your rights or our investigation, or if you have
information to share with us, please contact Joshua Rubin by telephone at
(888) 593-4771 or by email at
stockinfo@weisslawllp.com.
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 stockinfo@weisslawllp.com or fill out the form
on our website,
http://www.weisslawllp.com/phh-corporation/
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SOURCE WeissLaw LLP