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New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
MONSEY, N.Y., Sept. 15, 2022 (GLOBE NEWSWIRE) -- The law firm of Wohl & Fruchter LLP is investigating whether the directors of STORE Capital Corporation (NYSE:STOR) ("STOR") acted in the best interests of STOR shareholders in approving the sale of STOR to GIC and Oak Street (a division of Blue Owl) for $32.25 per share in cash.
If you remain a STOR shareholder and have questions about your legal rights, you may contact our firm at the following link to discuss your options at no charge:
https://wohlfruchter.com/cases/store-capital-corporation/
Alternatively, you may contact us by phone at 866-833-6245, or via email at alerts@wohlfruchter.com.
Why is there an investigation?
On September 15, 2022, STOR announced that it had agreed to be acquired by GIC and Oak Street for $32.25 per share in cash. The agreement has been approved by the STOR board of directors ("Board").
Our investigation concerns whether STOR's Board acted in the best interests of STOR shareholders in approving the sale, including whether the acquisition price adequately compensates STOR shareholders, and whether all material information regarding the transaction has been fully disclosed.
Notably, according to an analysis of Wall Street price targets for STOR in the last 90 days published on Seeking Alpha, there is a high price target for STOR of $37.00 per share, which is above the deal price.
Moreover, in an article dated August 11, 2022, Brad Thomas, a leading REIT analyst on SeekingAlpha, has noted that STOR has historically traded at a multiple of 16.9x its Adjusted Funds From Operations (AFFO) (a commonly used REIT valuation metric). Thomas cites estimates that STOR's AFFO in 2022 will be $2.22 per share, which indicates a fair value for STOR of $37.52 per share, which is above the deal price.
About Wohl & Fruchter
Wohl & Fruchter LLP, with offices in New York City and Monsey, has for over a decade been representing investors in litigation arising from fraud and other corporate misconduct, and recovered hundreds of millions of dollars in damages for investors. Please visit our website, www.wohlfruchter.com, to learn more about our Firm, or contact one of our partners.
Contact:
Wohl & Fruchter LLP
Joshua E. Fruchter
Toll Free 866.833.6245
alerts@wohlfruchter.com
www.wohlfruchter.com
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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