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The Law Office of Abe Shainberg Launches an Investigation into the Possible Breaches of Fiduciary Duty by the Board of NSTAR in

^{Published on 2010-10-19 08:30:30 - Market Wire}
 

NEW YORK--([ BUSINESS WIRE ])--The Law Office of Abe Shainberg is investigating the Board of Directors of NSTAR (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 (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.

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. 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 Abe Shainberg, Esq. either via email at [ as@ashainberglaw.com ] or by telephone at (212) 425-7286, or visit [ http://www.ashainberglaw.com/nstar-nst.html ].

Mr. Shainberg has expertise in prosecuting investor securities litigation, is a certified and registered arbitrator and mediator involving financial matters, and represents investors in various matters nationwide.