PHILADELPHIA, PA / ACCESSWIRE / September 10, 2021 / Kehoe Law Firm, P.C. is investigating whether certain officers and/or directors of Replay Acquisition Corp ("Replay" or the "Company") (NYSE:RPLA) received greater benefits than Replay investors, as a result of the Company's merger with Finance of America Companies Inc. ("Finance of America") (NYSE: FOA).
The investigation concerns whether Replay's board of directors or senior management failed to manage Replay in an acceptable manner, in breach of their fiduciary duties to the Company's shareholders, and whether Replay's shareholders suffered damages as a result.
On October 12, 2020, Replay executed a merger agreement with the predecessor to Finance of America, with a January 28, 2021, record date for the shareholder vote. On April 1, 2021, the merger transaction closed, with Finance of America continuing as the successor entity.
On August 12, 2021, Finance of America announced quarterly earnings, including a drop in mortgage originations and a narrower gain on sale margins, dropping the stock price to $5.33/share.
IF YOU WERE A REPLAY SHAREHOLDER AND WISH TO DISCUSS KEHOE LAW FIRM'S INVESTIGATION OR HAVE QUESTIONS ABOUT YOUR POTENTIAL LEGAL RIGHTS, PLEASE CONTACT MICHAEL YARNOFF, ESQ., (215) 792-6676, EXT. 804, [email protected], [email protected], TO LEARN MORE ABOUT THE INVESTIGATION OR POTENTIAL LEGAL CLAIMS.
Kehoe Law Firm, P.C., with offices in New York and Philadelphia, is a multidisciplinary, plaintiff-side law firm dedicated to protecting investors from securities fraud, breaches of fiduciary duties, and corporate misconduct. Combined, the partners at Kehoe Law Firm have served as Lead Counsel or Co-Lead Counsel in cases that have recovered more than $10 billion on behalf of institutional and individual investors.
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SOURCE: Kehoe Law Firm, P.C.