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The Law Office of Vincent Wong Announces Investigation of Fiduciary Duty by the Board of Dynegy Inc. - DYN

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^{Published in Business and Finance on Monday, August 16th 2010 at 14:40 GMT by Market Wire}  

NEW YORK--([ BUSINESS WIRE ])--The Law Office of Vincent Wongis investigating the board of directors of Dynegy Inc.(aDynegya or the aCompanya) (NYSE: DYN) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to The Blackstone Group L.P. (aBlackstonea) (NYSE: BX) for $4.50 in cash per share. The total transaction value is approximately $4.7 billion, including the assumption of debt.

The investigation concerns whether the Dynegy Board of Directors breached their fiduciary duties to Dynegy stockholders by failing to adequately shop the Company before entering into this transaction and whether Blackstone is underpaying for Dynegy shares. Dynegy stock traded at $5.35 per share in May 2010 and the mean target set by analysts for Dynegy stock is $4.76 per share with at least one analyst setting a price target at $7.50 per share.

If you own common stock in Dynegy and wish to obtain additional information about this investigation, please contact Vincent Wong, Esq. directly, via email at [ vw@wongesq.com ], by telephone at 212.584.2740, or visit [ http://www.wongesq.com/dynegy.html ].

Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights.