Integrys Energy Group, Inc. Merger Litigation (NYSE: TEG)
SHAREHOLDER ALERT: Brodsky & Smith, LLC Announces Investigation of Integrys Energy Group, Inc. - TEG
BALA CYNWYD, June 23, 2014 /PR Newswire/ –Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Integrys Energy Group, Inc. (“Integrys” or the “Company”) (NYSE –TEG-News) relating to the proposed acquisition by Wisconsin Energy Corp. (“Wisconsin Energy”).
Under the terms of the transaction, Integrys shareholders will receive only $18.58 in cash and 1.128 Wisconsin Energy shares for each share of Integrys stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Integrys for not acting in the Company’s shareholders' best interests in connection with the sale process. The transaction may undervalue Integrys, given that the transaction will allow Wisconsin Energy to minimize its exposure to the volatile wholesale power market. In addition, Wisconsin Energy’s shares were down 2.5% after the announcement.
If you own shares of Integrys common stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at firstname.lastname@example.org or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and case action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
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