Business & Finance
Business and Finance
Business and Finance
Tue, October 19, 2010
Mon, October 18, 2010 The Law Firm of Levi & Korsinsky, LLP Launches an Investigation into the Possible Breaches of Fiduciary Duty by the Board of NS
NEW YORK--([ BUSINESS WIRE ])--Levi & Korsinsky is investigating the Board of Directors of NSTAR (the aCompanya) (NYSE: NST) for possible breaches of fiduciary duty and other violations of state law in connection with the merger of equals between NSTAR and Northeast Utilities System (aNortheast Utilitiesa) (NYSE:NU). NSTAR shareholders will receive 1.312 Northeast Utilities common shares for each NSTAR share that they own. Based on the prior close of Northeast Utilities stock, the transaction values NSTAR stock at approximately $40.28 per share with a total equity value of $9.5 billion and an enterprise value of $17.5 billion.
Click here to learn how to join the action: [ http://www.zlk.com/nstar-nst.html ], or call: 877-363-5972.
The investigation concerns whether the NSTAR Board of Directors breached their fiduciary duties to NSTAR stockholders by failing to adequately shop the Company before entering into this transaction and whether Northeast Utilities is underpaying for NSTAR shares, thus unlawfully harming NSTAR stockholders. In particular, at least one analyst set a price target for NSTAR stock at $41.00 per share and the Company's shares traded as high as $40.23 as recently as October 5, 2010.
If you own common stock in NSTAR and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at [ jlevi@zlk.com ] or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit [ http://www.zlk.com/nstar-nst.html ].
Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major litigations involving mergers and acquisitions.
