Law Offices of Howard G. Smith Announces Investigation on Behalf of Shareholders of Constellation Energy Group, Inc. in Conne...
April 28 2011 - 7:45PM
Business Wire
Law Offices of Howard G. Smith announces that it is
investigating potential claims against the board of directors of
Constellation Energy Group, Inc. (“Constellation” or the “Company”)
(NYSE:CEG) related to the Company’s agreement to be acquired by
Exelon Corporation (“Exelon”) in a stock-for-stock transaction
where Constellation shareholders will receive 0.93 shares of Exelon
common stock for each share they own of Constellation common stock.
The transaction implies a value of $38.59 per Constellation share,
or approximately $7.9 billion in total equity value.
The investigation concerns whether the board of directors of
Constellation breached their fiduciary duties to stockholders by
failing to adequately shop the Company before agreeing to enter
into the proposed transaction, and whether the Company has
disclosed all material information to shareholders about the
transaction. Additionally, at least one analyst has set a target
price of $38.00 per share, virtually nullifying any premium that
Constellation shareholders would receive under the transaction.
If you are a shareholder of Constellation, if you have
information or would like to learn more about these claims, or if
you wish to discuss these matters or have any questions concerning
this announcement or your rights or interests with respect to these
matters, please contact Howard G. Smith, Esquire, of Law Offices of
Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem,
Pennsylvania 19020, by telephone at (215) 638-4847, Toll Free at
(888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or
visit our website at http://www.howardsmithlaw.com.
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