WILMINGTON, Del., Jan. 6, 2015 (GLOBE NEWSWIRE) -- Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, is investigating potential breach of fiduciary duty claims against the Board of Directors of Uranerz Energy Corporation ("Uranerz" or the "Company") relating to the sale of the Company to Energy Fuels Inc. ("Energy Fuels"). On January 5, 2015, the two companies announced the signing of a definitive merger agreement pursuant to which Energy Fuels will acquire Uranerz in a merger worth $150 million. As a result of the merger, Uranerz shareholders are only anticipated to receive 0.255 common shares of Energy Fuels exchange for each share of Uranerz.
Andrews & Springer's investigation focuses on the inadequate consideration that Uranerz shareholders are expected to receive. While the deal is advertised as offering a premium for Uranerz shareholders, Energy Fuels' share price dropped more than 13% yesterday after the announcement of the merger. Based on yesterday's closing price, Uranerz shareholders are expected to only receive $1.35 per share. Tellingly, analysts at Yahoo! Finance have set a $2.00 per share price target for Uranerz. Moreover, the 0.255 fixed exchange ratio restricts the value that Uranerz shareholders are expected to receive by exposing shareholders to the volatility of Energy Fuels' share price. Following the merger, Uranerz shareholders are expected to be substantially diluted, owning only 55% of the combined company.
Andrews & Springer is investigating whether Uranerz directors are breaching their fiduciary duties by failing to adequately shop the company and maximize shareholder value. Andrews & Springer is also investigating the fairness of the sales process conducted by Uranerz's financial advisor, Haywood Securities Inc.
If you own shares of Uranerz and want to receive additional information and protect your investments free of charge, please visit us at http://www.andrewsspringer.com/cases-investigations/URZ or contact Craig J. Springer, Esq. at cspringer@andrewsspringer.com, or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.
Andrews & Springer is a boutique securities class action law firm representing shareholders nationwide who are victims of securities fraud, breaches of fiduciary duty or corporate misconduct. Having formerly defended some of the largest financial institutions in the world, our founding members use their valuable knowledge, experience, and superior skill for the sole purpose of achieving positive results for investors. These traits are the hallmarks of our innovative approach to each case our Firm decides to prosecute. For more information please visit our website at www.andrewsspringer.com. This notice may constitute Attorney Advertising.