SHAREHOLDER ALERT: Brower Piven Announces the Investigation of DIRECTV in Connection with the Proposed Sale of the Company to...
May 19 2014 - 7:15PM
Business Wire
The securities litigation law firm of Brower Piven, A
Professional Corporation, has commenced an investigation into
possible breaches of fiduciary duty to current shareholders of
DIRECTV (“DIRECTV” or the “Company”) (NasdaqGS: DTV) and other
violations of state law by the board of directors of DIRECTV
relating to the proposed buyout of the Company by AT&T, Inc.
(“AT&T”).
Under the terms of the transaction, DIRECTV shareholders will
receive $28.50 in cash and 1.905 shares of AT&T common stock
for each share of DIRECTV stock they own, representing a value of
approximately $95.00 per share. According to Yahoo! Finance, at
least one analyst following DIRECTV has set a target price of $100
per share.
The firm’s investigation seeks to determine, among other things,
whether the Company’s board of directors breached their fiduciary
duties by failing to maximize shareholder value before agreeing to
enter into this transaction, and whether AT&T is underpaying
for DIRECTV shares.
If you currently own common stock of DIRECTV and would like to
learn more about the investigation being conducted by Brower Piven,
without cost or obligation to you, click here:
http://www.browerpiven.com/currentinvestigations.html.
You may also request more information by contacting Brower Piven
either by email at hoffman@browerpiven.com or by telephone at (410)
415-6616. Attorneys at Brower Piven together have more than a
century of experience litigating securities and other class action
cases.
Brower Piven, A Professional CorporationCharles J. Piven,
410-415-66161925 Old Valley RoadStevenson, Maryland
21153hoffman@browerpiven.com
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