SAN DIEGO, Jan. 24, 2018 /PRNewswire/ -- Shareholder rights
law firm Johnson Fistel, LLP has launched an investigation into
whether the board members of U.S. Geothermal Inc. (NYSE: HTM)
("U.S. Geothermal") breached their fiduciary duties in connection
with the proposed sale of the Company to Ormat Technologies, Inc.
(NYSE: ORA) ("Ormat").
On January 24, 2018, U.S.
Geothermal announced that it had signed a definitive merger
agreement with Ormat. Under the terms of the agreement, U.S.
Geothermal shareholders will receive $5.45 per share in cash.
The investigation concerns whether the U.S. Geothermal board
failed to satisfy its duties to the Company shareholders, including
whether the board adequately pursued alternatives to the
acquisition and whether the board obtained the best price possible
for U.S. Geothermal shares of common stock. Nationally
recognized Johnson Fistel is
investigating whether the proposed deal represents adequate
consideration, especially given the Company's projected revenue and
earnings growth and one Wall Street analyst has a $6.00 price target on the stock.
If you are a shareholder of U.S. Geothermal and
believe the proposed buyout price is too low or you're interested
in learning more about the investigation or your legal rights and
remedies, please contact lead analyst Jim
Baker (jimb@johnsonfistel.com) at 619-814-4471. If emailing,
please include a phone number.
About Johnson Fistel,
LLP:
Johnson Fistel, LLP is a nationally
recognized shareholder rights law firm with offices in California, New
York and Georgia. The firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits. For more
information about the firm and its attorneys, please visit
http://www.johnsonfistel.com. Attorney advertising. Past results do
not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
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SOURCE Johnson Fistel, LLP