Science & Technology
Science and Technology
Science and Technology
Tue, February 15, 2011
The Law Office of Joseph Klein is Investigating Possible Breaches of Fiduciary Duty by the Board of Hughes Communications, Inc.
NEW YORK--([ BUSINESS WIRE ])--The Law Office of Joseph Klein 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 proposed transaction, Hughes stockholders will receive $60.70 in cash per share for a transaction value of approximately $2 billion, including assumed 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. According to Thomson/First Call, at least one analyst set a price target of $65 per share and Hughes stock traded at $63.26 per share as recently as February 10, 2011.
If you own common stock in Hughes and wish to obtain additional information, please contact Joseph Klein, Esq. directly, via email at [ jk@jkleinlawfirm.com ], by telephone at 718-947-0005, Toll Free: 877-STOK-180, or visit [ http://www.jkleinlawfirm.com/hughescommunications-hugh.html ].
Joseph Klein, Esq. is an experienced attorney and has also practiced as a Certified Public Accountant. Mr. Klein represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.
