Science & Technology
Science and TechnologyScience and Technology 
Tue, February 15, 2011
Mon, February 14, 2011
Brower Piven Announces an Investigation of the Acquisition of Hughes Communications, Inc. by Echostar Corp.
STEVENSON, Md.--([ BUSINESS WIRE ])--The law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of Hughes Communications, Inc. (aHughesa) (NASDAQ:HUGH) and other violations of state law by the Board of Directors of Hughes relating to the proposed acquisition of the company by Echostar Corp. (aEchostara). The firma™s investigation seeks to determine whether Hughes and its Board breached their fiduciary duties by failing to maximize shareholder value.
On February 14, 2011, Hughes and Echostar jointly announced that they had entered into a definitive merger agreement for Hughes to be acquired by Echostar. Under the terms of the agreement, each stockholder of Hughes common stock will receive $ 60.70 per share in cash. This price represents a 1.7% discount of Hughesa™ closing stock price on February, 11, 2011, and Hughes stock was recently trading as high as $64 per share in January. The deal is valued at $1.3 billion, and Echostar is further acquiring $700 million of Hughesa™ debt.
If you currently own shares of Hughes and would like to learn more about the investigation being conducted by Brower Piven, you may email or call Brower Piven, who will, without obligation or cost to you, attempt to answer your questions. You may contact Brower Piven by email at [ hoffman@browerpiven.com ], by calling 410/415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and other class action cases of over 60 years.