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The Briscoe Law Firm Announces Investigation of Central Vermont Public Service (CV)

^{Published on 2011-06-01 17:20:31 - Market Wire}
 

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 securities litigation law firm of [ Powers Taylor, LLP ] are investigating potential legal claims against the Board of Directors of Central Vermont Public Service (aCVa or aCentral Vermont Public Servicea) (NYSE: CV) related to the proposed buyout by (aFortisa or aFTSa) (TSX: FTS).

Fortis has entered into a definitive agreement to acquire Central Vermont Public Service, Vermont's largest electric utility, for an aggregate purchase price of approximately $700 million, the companies have announced. Under the all-cash transaction, Fortis will acquire all of the outstanding common shares of Central Vermont Public Service, providing Central Vermont Public Service shareholders $35.10 per share. The transaction is subject to the approval of Central Vermont Public Service shareholders, state and U.S. federal regulators, and other conditions. The transaction is expected to be completed in approximately six to 12 months.

The firms are investigating the fairness of the proposed transaction to CV shareholders and whether CVa™s Board of Directors acted in the shareholdersa™ best interests. The firms are also investigating whether CVa™s Board of Directors adequately considered all viable alternatives and properly shopped the company before entering into the agreement.

If you currently own shares of Central Vermont Public Service/CV and would like additional information regarding this investigation, or if you have information regarding the allegations involved in 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 matters.

Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters nationwide, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.