|[December 11, 2013]
Shareholder Rights Law Firm Johnson & Weaver, LLP Announces Investigation of the UNS Energy Corporation Proposed Sale to Fortis, Inc.
SAN DIEGO --(Business Wire)--
Shareholder Rights Law Firm Johnson & Weaver, LLP is investigating
whether members of the board of directors of UNS Energy Corporation
(NYSE: UNS) breached their fiduciary duties in connection with the
planned sale of the company to Fortis, Inc.
On December 11, 2013, UNS Energy announced that it has entered into an
Agreement and Plan of Merger with Canadian-based Fortis. Under the terms
of this transaction, which is scheduled to be completed in 2014, UNS
Energy shareholders stand to receive $60.25 in cash for each share of
stock they own.
The investigation concerns whether UNS Energy's board failed to satisfy
their duties to the company's sharehoders, including whether the board
adequately pursued alternatives to the acquisition and whether the board
obtained the best price possible for UNS Energy's shares of common
stock. The investigation also concerns potential conflicts of interest
arising out of the UNS Energy's management's interest in
post-acquisition employment or investment opportunities.
If you are a shareholder of UNS Energy and would like additional
information concerning your legal rights, please contact lead analyst
Jim Baker (firstname.lastname@example.org)
Johnson & Weaver, LLP is a nationally recognized shareholder rights law
firm with offices in California and New York. The firm represents
individual and institutional investors in shareholder derivative and
securities class action lawsuits. For more information about the firm
and its attorneys, please visit http://www.johnsonandweaver.com.
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