Hughes Telematics, Inc. Shareholder Alert: Bernstein Liebhard LLP Announces Investigation Of Acquisition By Verizon Communications Inc.
June 01, 2012
Bernstein Liebhard LLP is investigating whether the Board of Directors of Hughes Telematics, Inc. (“HTI” or the “Company”) (OTCBB: HUTC) breached its fiduciary duty to its shareholders in agreeing to sell HTI to Verizon Communications Inc. (NYSE, NASDAQ: VZ).
Under the terms of the agreement, HTI shareholders will receive $12.00 in cash for each share they own. The investigation is focused on the potential unfairness of the price to HTI shareholders and the process by which the HTI 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.