The Law Offices of Howard G. Smith is investigating whether the Board of Directors of First Advantage Corporation (NASDAQ: FADV) breached its fiduciary duty to its shareholders in agreeing to sell the Company to The First American Corporation in an all stock deal worth $14.04 per share to First Advantage's shareholders.
The Law Offices of Howard G. Smith believes that the deal is suspicious because it appears from a review of the Company's financial statements that the inherent value of the Company's stock is greater than $14.04 and because the stock traded higher recently. Additionally, the deal is suspect because First American owns approximately 74% of First Advantage's common stock and controls approximately 98% of the voting power of First Advantage. First American's super-majority ownership of First Advantage means that First American is able to dictate terms to First Advantage's minority shareholders.
If you own common stock in First Advantage Corporation (NASDAQ: FADV) and wish to protect your investment, please call the Law Offices of Howard G. Smith and speak to Mr. Smith directly regarding how he can help you or complete the online questionnaire and Mr. Smith will promptly call you.
