NEW YORK–(BUSINESS WIRE)–#Acquisition–Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, has launched an investigation into whether the board members of Yintech Investment Holdings Limited (NASDAQ: YIN) breached their fiduciary duties or violated the federal securities laws in connection with the company’s acquisition by Yinke Holdings Ltd.
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On August 17, 2020, Yintech announced that it had signed an agreement to be acquired by Yinke for approximately $540 million. Pursuant to the merger agreement, Yintech’s stockholders will receive $0.365 in cash for each share of Yintech common stock owned and $7.30 in cash for each American depositary share (“ADS”) owned. The deal is scheduled to close in the fourth quarter of 2020.
Bragar Eagel & Squire is concerned that Yintech’s board of directors oversaw an unfair process and ultimately agreed to an inadequate deal price. Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for Yintech’s stockholders.
If you own shares of Yintech and are concerned about the proposed merger, or you are interested in learning more about the investigation or your legal rights and remedies, please contact Melissa Fortunato or Alexandra Raymond by email at email@example.com or telephone at (646) 860-9157, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.