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Law Offices of Howard G. Smith Announces Investigation on Behalf of Shareholders of Constellation Energy Group, Inc. in Connect

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  Published in Business and Finance on Thursday, April 28th 2011 at 16:56 GMT by Market Wire
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BENSALEM, Pa.--([ BUSINESS WIRE ])--Law Offices of Howard G. Smith announces that it is investigating potential claims against the board of directors of Constellation Energy Group, Inc. (aConstellationa or the aCompanya) (NYSE:CEG) related to the Companya™s agreement to be acquired by Exelon Corporation (aExelona) in a stock-for-stock transaction where Constellation shareholders will receive 0.93 shares of Exelon common stock for each share they own of Constellation common stock. The transaction implies a value of $38.59 per Constellation share, or approximately $7.9 billion in total equity value.

The investigation concerns whether the board of directors of Constellation breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into the proposed transaction, and whether the Company has disclosed all material information to shareholders about the transaction. Additionally, at least one analyst has set a target price of $38.00 per share, virtually nullifying any premium that Constellation shareholders would receive under the transaction.

If you are a shareholder of Constellation, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to [ howardsmith@howardsmithlaw.com ], or visit our website at [ http://www.howardsmithlaw.com ].