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Law Office of Jonathan M. Stein, P.L., Investigates Possible Breach of Fiduciary Duty by the Board of Hughes Communications, In

^{Published on 2011-02-14 06:20:13 - Market Wire}
 

BOCA RATON, Fla.--([ BUSINESS WIRE ])--The Law Office of Jonathan M. Stein, P.L. is investigating the Board of Directors of Hughes Communications, Inc ("Hughes" or the "Company") (Nasdaq: HUGH) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to complete a sale of the Company to EchoStar Corporation (Nasdaq: SATS). Under the terms of the proposed transaction, Hughes shareholders are to receive $60.70 in cash for each share of Hughes common stock. Investment funds affiliated with Apollo Management IV, L.P., who own a majority of Hughes' outstanding stock, have approved the transaction by entering into a written shareholder consent.

The investigation involves whether the Board of Directors of Hughes breached their fiduciary duties to Hughes stockholders by failing to adequately shop the Company before agreeing to enter into the transaction and whether Hughes has disclosed all material information to shareholders about the proposed transaction. Specifically, the offer price is a 4% discount to the recent trading prices of Hughesa™s stock. Further, according to Yahoo Finance, one analyst has set a $65.00 target price per share.

If you own stock in Hughes and wish to obtain additional information about your rights, or if you have information regarding the above investigation, please contact Jonathan M. Stein, Esq. either via email at [ jstein@jonathansteinlaw.com ] or by telephone at (561) 961-2244.

The Law Office of Jonathan M. Stein, P.L.represents shareholders and consumers in complex litigation, including class action and derivative litigation. More information about the firm is available through its website, [ www.jonathansteinlaw.com ], and upon request from the firm. Jonathan M. Stein is the attorney responsible for the content of this release.