MILWAUKEE, May 28, 2013 (GLOBE NEWSWIRE) -- We are investigating the Board of Directors of LPS for possible breaches of fiduciary duty and other violations of state law in connection with the sale of LPS to Fidelity National Financial, Inc.
Click here to learn how to join the action: http://www.ademilaw.com/case/lender-processing-services-inc or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
Lender Processing's long-term financial outlook is very positive and yet LPS shareholders will receive the equivalent of only $33.25 for their shares. Fidelity National is well aware of LPS's improving financial metrics and is purchasing LPS at a substantial discount. The merger agreement unreasonably limits prospective bids for LPS by (i) prohibiting solicitation of any further bids, and (ii) imposing a termination penalty should LPS receive and accept a superior bid. LPS insiders, their affiliates and other majority shareholders own significant voting stock of LPS, and will receive millions of dollars as part of change of control arrangements, and therefore can unduly influence a sale of LPS not necessarily in the best interests of non-insider shareholders. In light of these facts, our investigation centers on the conduct of LPS's Board of Directors, who have unanimously approved the transaction, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for LPS given its current financial condition and prospects.
If you own securities of LPS and wish to obtain additional information, please contact Guri Ademi either at email@example.com or toll-free: 866-264-3995, http://www.ademilaw.com/case/lender-processing-services-inc.
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CONTACT: Ademi & O'Reilly, LLP Guri Ademi 3620 East Layton Ave. Cudahy, WI 53110 Toll Free: (866) 264-3995 Fax: (414) 482-8001 www.ademilaw.comSource:Ademi & O'Reilly, LLP