Business & Finance
Business and Finance
Business and Finance
Tue, October 19, 2010
Mon, October 18, 2010 The Briscoe Law Firm Investigates NSTAR for Shareholders Concerning the Merger of NSTAR with Northeast Utilities
DALLAS--([ BUSINESS WIRE ])--[ The Briscoe Law Firm, PLLC ], founded by a former state prosecutor and enforcement attorney for the United States Securities and Exchange Commission, and the law firm of Powers Taylor, LLP are investigating potential legal claims against the Board of Directors of [ NSTAR ] (aNSTARa or aNSTa) (NYSE: NST) related to the proposed merger of NSTAR with Northeast Utilities.
The definitive merger agreement, which was announced on October 18, 2010, involves a transaction valued at approximately $4.17 billion under which NSTAR shareholders will receive $1.312 shares of Northeast Utilities common stock for each share of NSTAR/NST common stock they hold. The terms of the transaction constitute a ano premium mergera agreement, which does not provide any premium to current NSTAR shareholders. Based on the lack of a premium and NSTARa™s historic stock price, the firm believes that the proposed transaction may undervalue NSTAR shares and not be fair to NSTAR shareholders.
The investigation relates to possible breaches of fiduciary duty and other violations of state law by the Board of Directors of NSTAR for approving this transaction and whether NSTARa™s Board of Directors acted in the shareholdersa™ best interests.
If you currently own shares of NSTAR/NST and would like additional information regarding this investigation, or if you have information regarding the allegations involving this transaction, please contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at [ patrick@powerstaylor.com ], or Willie Briscoe at The Briscoe Law Firm, PLLC toll free (877) 397-5991, or via email at [ WBriscoe@TheBriscoeLawFirm.com ]. There is no cost or fee to you.
The Briscoe Law Firm is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.
