Rigrodsky & Long, P.A. announces a complaint alleging breaches of fiduciary duty and other violations of law has been filed in the New Mexico District Court, Bernalillo County against the board of directors of Santa Fe Gold Corporation (“Santa Fe” or the “Company”) (OTC QB: SFEG) in connection with the Company’s entry into an agreement to be acquired by Tyhee Gold Corp. (“Tyhee”).
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Under the terms of the agreement, public shareholders of Sante Fe will receive: (a) 0.9 of one common share of Tyhee (the "Tyhee Common Shares") and (b) 0.45 of one warrant, with each whole warrant entitling the holder to purchase one Tyhee Common Share, at an exercise price of Cd$0.25 per Tyhee Common Share for a period of four years.
The complaint alleges that Santa Fe’s board of directors failed to adequately shop the Company and obtain the best possible value for Santa Fe’s shareholders before entering into an agreement with Tyhee.
If you own the common stock of Santa Fe and purchased your shares before January 24, 2014, and would like to learn more about these allegations, please contact Seth D. Rigrodsky or Gina M. Serra at Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, Delaware 19803, by telephone at (888) 969-4242; by e-mail to firstname.lastname@example.org, or at: http://www.rigrodskylong.com/investigations/santa-fe-gold-corporation- ....
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, on behalf of shareholders in states and federal courts throughout the United States.
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