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Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of MTGE Investment Corp. (NASDAQGS: MTGE) to Annaly Capital Management Inc. (NYSE: NLY). Under the terms of the transaction, MTGE shareholders may elect to receive, per share: (a) $9.82 in cash and 0.9519 shares of Annaly common stock; (b) $19.65 in cash; or (c) 1.9037 shares of Annaly common stock.
The investigation concerns whether the Board of MTGE breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Annaly Capital Management is underpaying for MTGE shares, thus unlawfully harming MTGE shareholders.
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