Halper Sadeh LLC Investigates Companies for Shareholder Rights Violations

Halper Sadeh LLC, a law firm specializing in investor rights, has launched an investigation into several public companies concerning potential breaches of fiduciary duties and violations of federal securities laws that may adversely affect shareholders. The companies under scrutiny include Mr. Cooper Group Inc. (NASDAQ COOP), HomeStreet, Inc. (NASDAQ HMST), Allakos Inc. (NASDAQ ALLK), and Old Point Financial Corporation (NASDAQ OPOF).

Mr. Cooper Group Inc.

The inquiry into Mr. Cooper Group revolves around its planned sale to Rocket Companies, which proposes a lucrative exchange of 11 Rocket shares for each share of Mr. Cooper common stock. Following this merger, Mr. Cooper shareholders would own approximately 25% of the newly formed entity. There's concern regarding how this transaction aligns with shareholder interests and if the proposed terms truly reflect the fair value of the shares. Halper Sadeh LLC is urging Mr. Cooper shareholders to assess their legal rights related to this deal and explore various avenues available for potential recourse.

HomeStreet, Inc.

The situation for HomeStreet is equally compelling as it considers a merger with Mechanics Bank, with a projected equity valuation of approximately $300 million prior to the merger. After completion, HomeStreet shareholders are expected to hold around 8.3% of the combined company. This investigation highlights the need for clarity and full disclosure on how these terms may impact current shareholders and what their rights are moving forward.

Allakos Inc.

Allakos is under scrutiny due to its proposed sale to Concentra Biosciences for an estimated $0.33 in cash per share. This transaction has raised alarms among shareholders who are encouraged to explore what rights they hold and to ensure their interests are adequately represented in the sale process. Halper Sadeh LLC is committed to uncovering any discrepancies or overlooked concerns in this potential sale.

Old Point Financial Corporation

Lastly, Old Point Financial is looking at a sale to TowneBank, with options for shareholders to either receive $41.00 in cash or 1.1400 shares of TowneBank common stock for each share they currently hold in Old Point. This dual-choice approach raises questions regarding what is in the best interest of the shareholders, leading Halper Sadeh LLC to investigate the fairness and legality of this transaction.

Halper Sadeh LLC operates on a contingency fee basis, meaning that shareholders would not incur any upfront costs for legal representation, making it an accessible option for those looking to protect their rights. The firm has a strong track record, representing investors globally who have suffered losses due to securities fraud or corporate misconduct, and asserts its dedication to recovering losses on behalf of defrauded investors.

For shareholders of these companies, Halper Sadeh LLC encourages reaching out for a consultation to discuss potential legal actions. Investors can contact Daniel Sadeh or Zachary Halper at (212) 763-0060 or via email at info@halpersadeh.com with any queries regarding their rights in these situations. The firm highlights its mission to ensure transparency and fairness in corporate transactions affecting shareholder value.

Halper Sadeh LLC is committed to the ongoing fight for investor rights and the promotion of corporate accountability, standing ready to assist those who seek justice and proper compensation for their investments.