We are investigating whether the directors of Vidler Water Resources, Inc. (ticker: VWTR) (“Vidler”) acted in the best interests of Vidler shareholders in approving the proposed sale of Vidler to D.R. Horton, Inc. (ticker: DHI) (“DHI”) for $15.75 per share in cash—a price that is below the $16.27 per share at which VWTR closed the day before the deal was announced.
If you remain a Vidler shareholder and have questions about your legal rights, please contact our firm using the form below to discuss your options at no charge.
Why is there an investigation?
On April 14, 2022, DHI announced that it plans to acquire all of the outstanding shares of Vidler for $15.75 per share in cash in a tender offer.
Our investigation concerns whether Vidler’s board acted in the best interests of Vidler shareholders in approving the sale to DHI, including whether the acquisition price adequately compensates Vidler shareholders, and whether all information regarding approval of the transaction has been fully disclosed.
In particular, on April 13, 2022—the day before the deal was announced—Vidler closed at $16.27 per share.