Science & Technology
Science and Technology
Science and Technology 
Wed, March 2, 2011
Tue, March 1, 2011
The Law Offices of Vincent Wong Announce an Investigation into Possible Breaches of Fiduciary Duty by the Board of Hughes Commu
NEW YORK--([ BUSINESS WIRE ])--The Law Offices of Vincent Wong are 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 deal, Hughes stockholders will receive $60.70 in cash per share for a total transaction value of approximately $2 billion, including approximately $675 million in 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. For example, Hughes stock traded at $63.26 per share as recently as February 10, 2011 and Yahoo! Finance reported at least one analyst that set a price target of $65.00 per share for Hughes stock.
If you own common stock in Hughes and wish to obtain additional information, please contact Vincent Wong, Esq. either via email [ vw@wongesq.com ], by telephone at 212.584.2740, or visit [ http://www.wongesq.com/hughescommunications.html ].
Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.