Science & Technology
Science and TechnologyScience and Technology 
Tue, February 15, 2011
Mon, February 14, 2011
The Law Office of Abe Shainberg Launches an Investigation into Possible Breaches of Fiduciary Duty by the Board of Hughes Commu
NEW YORK--([ BUSINESS WIRE ])--The Law Office of Abe Shainberg is investigating the Board of Directors of Hughes Communications, Inc. (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 (Nasdaq: SATS). Under the terms of the transaction, Hughes stockholders will receive $60.70 per outstanding share of Hughes common stock they own for a total transaction value of approximately $2 billion, including assumption of debt.
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. Hughes stock traded at $63.26 per share as recently as February 10, 2011 and, according to Yahoo! Finance, 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 Abe Shainberg, Esq. either via email at [ as@ashainberglaw.com ] or by telephone at (212) 425-7286, or visit [ http://www.ashainberglaw.com/hughes-communications.html ].
Mr. Shainberg has expertise in prosecuting investor securities litigation, is a certified and registered arbitrator and mediator involving financial matters, and represents investors in various matters nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.