The Briscoe Law Firm Announces Investigation of Central Vermont Public Service (CV)
June 01 2011 - 1:51PM
Business Wire
The Briscoe Law Firm, PLLC, founded by a former state prosecutor
and enforcement attorney for the United States Securities and
Exchange Commission, and the securities litigation law firm of
Powers Taylor, LLP are investigating potential legal claims against
the Board of Directors of Central Vermont Public Service (“CV” or
“Central Vermont Public Service”) (NYSE: CV) related to the
proposed buyout by (“Fortis” or “FTS”) (TSX: FTS).
Fortis has entered into a definitive agreement to acquire
Central Vermont Public Service, Vermont's largest electric utility,
for an aggregate purchase price of approximately $700 million, the
companies have announced. Under the all-cash transaction, Fortis
will acquire all of the outstanding common shares of Central
Vermont Public Service, providing Central Vermont Public Service
shareholders $35.10 per share. The transaction is subject to the
approval of Central Vermont Public Service shareholders, state and
U.S. federal regulators, and other conditions. The transaction is
expected to be completed in approximately six to 12 months.
The firms are investigating the fairness of the proposed
transaction to CV shareholders and whether CV’s Board of Directors
acted in the shareholders’ best interests. The firms are also
investigating whether CV’s Board of Directors adequately considered
all viable alternatives and properly shopped the company before
entering into the agreement.
If you currently own shares of Central Vermont Public Service/CV
and would like additional information regarding this investigation,
or if you have information regarding the allegations involved in
this transaction, please contact Patrick Powers at Powers Taylor,
LLP, toll free (877) 728-9607, via e-mail at
patrick@powerstaylor.com, or Willie Briscoe at The Briscoe Law
Firm, PLLC toll free (877) 397-5991, or via email at
WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.
The Briscoe Law Firm is a full service business litigation and
shareholder rights advocacy firm with more than 20 years of
experience in complex litigation matters.
Powers Taylor, LLP is a boutique litigation law firm that
handles a variety of complex business litigation matters
nationwide, including claims of investor and stockholder fraud,
shareholder oppression, shareholder derivative suits, and security
class actions.
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