Bernstein Liebhard LLP Announces Investigation of Acquisition of CH Energy Group, Inc. (NYSE: CHG) by Fortis Inc.
February 21, 2012
Bernstein Liehhard LLP is investigating whether the Board of Directors of CH Energy Group, Inc. (“CH Energy” or the “Company”) (NYSE: CHG) breached its fiduciary duty to its shareholders in agreeing to sell CH Energy (CHG) to Fortis Inc.
Under the terms of the agreement, CH Energy (CHG) shareholders will receive $65 in cash for each share they own. The investigation is focused on the potential unfairness of the price to CH Energy (CHG) shareholders and the process by which the CH Energy (CHG) Board of Directors considered and approved the transaction.
Bernstein Liebhard has pursued hundreds of securities, consumer and shareholder rights cases and recovered over $3 billion for its clients. It has been named to The National Law Journal’s ‘Plaintiffs’ Hot List” in each of the last nine years.