Western Asset Mortgage Capital Corp. and its directors allegedly misled shareholders about a proposed buyout by AG Mortgage Investment Trust, according to a suit filed Friday.
The company allegedly filed an incomplete and misleading proxy statement, which misrepresents or omits financial projections, analyses underlying financial adviser BTIG LLC’s fairness opinion, and potential conflicts of interest faced by BTIG and additional adviser JMP Securities LLC, says the complaint filed in US District Court for the District of Delaware.
Shareholders are expected to own approximately 31% of the combined company in the proposed deal, but they can’t cast an ...
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