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, 2011The Law Firm of Levi & Korsinsky, LLP Launches an Investigation into Possible Breaches of Fiduciary Duty by the Board of Hughes
//science-technology.news-articles.net/content/2 .. es-of-fiduciary-duty-by-the-board-of-hughes.html
Published in Science and Technology on Monday, February 14th 2011 at 8:15 GMT by Market Wire🞛 This publication is a summary or evaluation of another publication
NEW YORK--([ BUSINESS WIRE ])--Levi & Korsinsky is investigating the Board of Directors of Hughes Communications, Inc. (aHughesa or the aCompanya) (Nasdaq: HUGH) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to EchoStar Corporation (aEchoStara) (Nasdaq: SATS). Under the terms of the transaction, Hughes stockholders will receive $60.70 per outstanding share of Hughes common stock they own. EchoStar will assume approximately $675 million in debt, bringing the transactiona™s total value to approximately $2 billion.
Click here to learn more about this investigation: [ http://www.zlk.com/hughes-communication-hugh.html ], or call: 877-363-5972.
The investigation concerns whether the Hughes Board of Directors breached their fiduciary duties to Hughes stockholders by failing to adequately shop the Company before entering into this transaction and whether EchoStar is underpaying for Hughes shares, thus unlawfully harming Hughes stockholders. In particular, Hughes stock traded at $63.26 per share as recently as February 10, 2011 and at least one analyst set a price target of $65.00 per share.
If you own common stock in Hughes and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at [ jlevi@zlk.com ] or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit [ http://www.zlk.com/hughes-communication-hugh.html ].
Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major litigations involving mergers and acquisitions. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
