Science & Technology
Thu, February 17, 2011Wed, February 16, 2011Tue, February 15, 2011Mon, February 14, 2011Sun, February 13, 2011Fri, February 11, 2011Thu, February 10, 2011Wed, February 9, 2011Hughes Communications, Inc. Shareholder Investigation by Briscoe Law Firm Concerning Acquisition by EchoStar Corp.
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Published in Science and Technology on Monday, February 14th 2011 at 7:15 GMT by Market Wire🞛 This publication is a summary or evaluation of another publication
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 Hughes Communications, Inc. (aHughes Communicationsa or aHUGHa) (NASDAQ: HUGH) related to the proposed sale of Hughes Communications to EchoStar Corp. The definitive merger agreement, which was announced on February 14, 2011, involves a $1.34 billion cash transaction whereby Hughes Communications shareholder will receive only $60.70 for each share of Hughes Communications common stock they hold.
The proposed transaction offers Hughes shareholders a discount to Hughes Communicationsa™ closing price on February 11, 2011, which was $61.78 per share. Moreover, analysts have set a target price for Hughes Communicationsa™ shares as high as $65.00. aBased on the fact that the acquisition price is below the companya™s closing price the day before the acquisition announcement, and other factors, we have grave concern whether the proposed acquisition is fair to Hughes Communications shareholders, and we want to ensure that the shareholders are receiving the maximum value for their stock,a said shareholder rights attorney Willie Briscoe. The investigation relates to the fairness of the proposed transaction to Hughes Communications shareholders, possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Hughes Communications for approving this transaction, and whether Hughes Communicationsa™ Board of Directors acted in the shareholdersa™ best interests.
If you currently own shares of Hughes Communications/HUGH 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, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.
