DIRECTV SHAREHOLDER ALERT: Rigrodsky & Long, P.A. Announces Investigation Of Buyout
May 19 2014 - 9:21AM
Business Wire
Rigrodsky & Long, P.A.:
- Do you own shares of DIRECTV (NASDAQ
GS: DTV)?
- Did you purchase any of your shares
prior to May 18, 2014?
- Do you think the proposed buyout
price is too low?
- Do you want to discuss your
rights?
Rigrodsky & Long, P.A. announces that it is investigating
potential legal claims against the board of directors of DIRECTV
(“DIRECTV” or the “Company”) (NASDAQ GS: DTV) regarding possible
breaches of fiduciary duties and other violations of law related to
the Company’s entry into an agreement to be acquired by AT&T,
Inc. (“AT&T”) (NYSE: T), in a transaction valued at
approximately $48.5 billion.
Click here to learn more:
http://www.rigrodskylong.com/investigations/directv-dtv.
Under the terms of the agreement, public shareholders of DIRECTV
would receive $95.00 per share, comprised of $28.50 in cash and
1.905 shares of AT&T common stock for each share of DIRECTV
they own. The stock portion will be subject to a collar such that
DIRECTV shareholders will receive 1.905 AT&T shares if AT&T
stock price is below $34.90 at closing and 1.724 AT&T shares if
AT&T stock price is above $38.58 at closing. If AT&T stock
price at closing is between $34.90 and $38.58, DIRECTV shareholders
will receive a number of shares between 1.724 and 1.905, equal to
$66.50 in value.
The investigation concerns whether DIRECTV’s board of directors
failed to adequately shop the Company and obtain the best possible
value for DIRECTV’s shareholders before entering into an agreement
with AT&T. According to Yahoo! Finance, at least one analyst
has issued a price target for DIRECTV stock at $100.00 per
share.
If you own the common stock of DIRECTV and purchased your shares
before May 18, 2014, 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 Seth D.
Rigrodsky or Gina M. Serra at Rigrodsky & Long, P.A., 2 Righter
Parkway, Suite 120, Wilmington, DE 19803, by telephone at (888)
969-4242; by e-mail to info@rl-legal.com, or at:
http://www.rigrodskylong.com/investigations/directv-dtv.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware
and Garden City, New York, regularly prosecutes securities class,
derivative and direct actions, shareholder rights litigation and
corporate governance litigation, on behalf of shareholders in
states and federal courts throughout the United States.
Attorney advertising. Prior results do not guarantee a similar
outcome.
Rigrodsky & Long, P.A.Seth D. RigrodskyGina M.
Serra888-969-4242302-295-5310Fax:
302-654-7530info@rl-legal.comhttp://www.rigrodskylong.com
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