An investigation on behalf of investors in Vidler Water Resources, Inc. (NASDAQ:VWTR) shares over potential wrongdoing at Vidler Water Resources, Inc. was announced.
San Diego, CA — (SBWIRE) — 05/03/2022 — Certain directors of Vidler Water Resources, Inc. are under investigation over potential breaches of fiduciary duties.
Investors who purchased shares of Vidler Water Resources, Inc. (NASDAQ: VWTR) have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 – 1554.
The investigation by a law firm concerns whether certain Vidler Water Resources directors breached their fiduciary duties and caused damage to the company and its shareholders.
Carson City, NV based Vidler Water Resources, Inc., together with its subsidiaries, provides potable water resources to communities in the southwestern United States.
On April 14, 2022, D.R. Horton, Inc. (NYSE: DHI), and Vidler Water Resources, Inc. (Nasdaq: VWTR) (“Vidler”) announced that the two companies have entered into a merger agreement pursuant to which D.R. Horton will acquire Vidler for $15.75 per share in an all-cash transaction.
However, given that at least one analyst has set the high price target at $31.00 per share and givent hat NASDAQ: VWTR shares traded in the open market prior to the takeover announcement at $16.85 per share on April 11, 2022, the investigation concerns whether the offer is unfair to NASDAQ: VWTR stockholders. More specifically, the investigation concerns whether the Vidler Water Resources, Inc. Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders’ best interests in connection with the proposed sale.
Vidler Water Resources, Inc. reported that its annual Total Revenue rose from $9.029 million in 2020 to $28.22 million in 2021, and that its Net Income increased from $10 million in 2020 to $32.91 million in 2021.
Those who are current investors in Vidler Water Resources, Inc. (NASDAQ: VWTR) shares have certain options and should contact the Shareholders Foundation.
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