A law office recently announced that a securities class action lawsuit was filed against an energy delivery company after it agreed to a merger with another firm.
Andrews and Springer, LLC, noted that the litigation was filed in the Wisconsin Circuit Court against Integrys Energy Group, Inc. This was due to the company's agreement to merge with Wisconsin Energy Corp. If the deal is approved, it would be worth approximately $9.1 billion. Shareholders of Integrys Energy Group would receive 1.128 shares of Wisconsin Energy, as well as $18.58 in cash per share of their current interests held.
Due to these figures, shareholders would have a 28 percent dilution on the total amount of their shares held. There also would be a value restriction of Wisconsin Energy due to the fixed exchange ratio.
For those who are interested in becoming lead plaintiff in the case, it is important to speak with the court about the position. There has not yet been a certified class, and any shareholders have the option to retain their own counsel. This is not necessary, and it is still possible for shareholders to remain absent class members at this time.
Any individuals looking to learn more about the case can speak with the law office to receive more information. This is only open to stockholders of Integrys Energy Group. The best person to speak with is Craig Springer, and he can be reached by telephone or email. There is also additional information available on the law office's website.
Second lawsuit filed
Another law firm recently announced that it filed litigation against the leaders of Integrys Energy Group for many of the same reasons.
Law office Levi and Korsinsky, LLP, noted that the class action lawsuit was filed in the same court due to allegations of state law violations and fiduciary duty breaches against the board of directors of the company due to the proposed transaction. The deal would work out to $71.47 per share, but this could undervalue shareholders.
It is also an option for shareholders to discuss these matters with the law office. The best person to speak with to learn more about the case is Joseph Levi. He can be reached by telephone or email. Further details are available through the law firm's website.