WASHINGTON, June 30, 2009 (GLOBE NEWSWIRE) -- Finkelstein Thompson LLP is investigating potential shareholder claims arising from the proposed acquisition of First Advantage Corp. ("First Advantage" or the "Company") (Nasdaq:FADV) by First American Corp. ("First American") (NYSE:FAF). Under the terms of the proposed merger, First Advantage shareholders will receive 0.5375 of a share of First American common stock for each share of First Advantage common stock owned. This proposed exchange ratio represents an offer price of $14.04 per share based on both companies' closing prices on June 26, 2009.
The investigation is focused on the potential unfairness of the proposed merger price and of the process by which the First Advantage Board of Directors is addressing the offer. First American owns approximately 74% of the outstanding common stock of First Advantage, and thus has significant representation on First Advantage's Board of Directors.
If you are interested in discussing your rights as a First Advantage shareholder, or have information relating to this investigation, please contact Finkelstein Thompson's Washington, DC offices at (877) 337-1050 or by email at contact@finkelsteinthompson.com.
Finkelstein Thompson LLP has spent over three decades delivering outstanding representation to institutional and individual clients in connection with securities and other finance-related litigation, and has been appointed as lead or co-lead counsel in dozens of shareholder class actions. Indeed, the firm has served in leadership roles in cases that have recovered over $1 billion for investors and consumers. To learn more about Finkelstein Thompson LLP, please visit our web site at www.finkelsteinthompson.com.