Newman Ferrara LLP Announces Investigation of DIRECTV
May 19 2014 - 9:56AM
Business Wire
Newman Ferrara LLP is investigating potential claims against the
board of directors of DIRECTV (Nasdaq:DTV) concerning the proposed
sale of DIRECTV to AT&T Inc. (“AT&T”).
On May 18, 2014, DIRECTV entered into an agreement and plan of
merger to be acquired by AT&T pursuant to which, DIRECTV
stockholders will receive $95.00 per share of DIRECTV stock owned,
comprised of $28.50 in cash and AT&T common stock valued at
approximately $66.50. However, according to Yahoo! Finance, at
least one analyst has issued a price target for DIRECTV stock at
$100.00 per share.
Newman Ferrara’s investigation concerns whether DIRECTV’s Board
of Directors has breached its fiduciary duties to act in the best
interests of DIRECTV’s stockholders. The investigation focuses on
the potential unfairness of the consideration being provided to
DIRECTV’s stockholders and the process by which DIRECTV’s Board of
Directors considered and approved the proposed deal.
Concerned investors may contact Newman Ferrara attorneys Jeffrey
Norton at jnorton@nfllp.com or Roy Shimon at rshimon@nfllp.com to
discuss this investigation, their rights, or potential
remedies.
Newman Ferrara maintains a multifaceted practice based in New
York City with attorneys specializing in complex commercial and
multi-party litigation, securities fraud and shareholder
litigation, consumer protection, civil rights, and real estate. For
more information, please visit the firm website at
www.nfllp.com.
Newman Ferrara LLPJeffrey M. Norton or Roy
Shimon212-619-5400
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