NICHOLAS FINANCIAL INVESTOR ALERT: Faruqi & Faruqi, LLP Announces the Investigation of Nicholas Financial, Inc. (NICK) Over the Proposed Sale of the Company to Prospect Capital Corporation
Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Nicholas Financial, Inc. (“Nicholas Financial” or the “Company”) (NasdaqGS: NICK) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Prospect Capital Corporation in a cash deal valued at approximately $199 million. Under the terms of the proposed transaction, Nicholas Financial’s stockholders will receive $16.00 for each share of Nicholas Financial common stock they own.
The investigation focuses on whether Nicholas Financial’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether and by how much this proposed transaction undervalues the Company to the detriment of Nicholas Financial’s shareholders.
If you own common stock in Nicholas Financial, Inc. and wish to obtain additional information and protect your investments free of charge, please contact Juan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330.