Ademi & Fruchter LLP is investigating Playa (NASDAQ: PLYA) for possible breaches of fiduciary duty and other violations of law in its transaction with Hyatt.
Click here to learn how to join our investigation and obtain additional information or contact us at gademi@ademilaw.com or toll-free: 866-264-3995. There is no cost or obligation to you.
In the transaction, Playa stockholders will receive only $13.50 per share, or approximately $2.6 billion, including approximately $900 million of debt, net of cash. Hyatt is currently the beneficial owner of 9.4% of Playa’s outstanding shares. Playa insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for Playa by imposing a significant penalty if Playa accepts a competing bid. We are investigating the conduct of Playa’ board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.
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