A lawsuit was filed for investors in shares of El Paso Electric Company (NYSE: EE) in connection with the proposed takeover and El Paso Electric Company (NYSE: EE stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 07/26/2019 -- An investor, who currently holds shares of El Paso Electric Company (NYSE: EE), filed a lawsuit against the takeover of El Paso Electric Company.
Investors who purchased shares of El Paso Electric Company (NYSE: EE) and currently hold any of those El Paso Electric Company (NYSE: EE shares have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE: EE stockholders by agreeing to sell El Paso Electric Company. cheaply via an unfair process.
El Paso, TX based El Paso Electric Company, a public utility company, engages in the generation, transmission, and distribution of electricity in west Texas and southern New Mexico. On June 3, 2019, El Paso Electric Company (EPE) (NYSE: EE) and the Infrastructure Investments Fund, an investment vehicle advised by J.P. Morgan Investment Management Inc. (IIF), today announced that they have entered into a definitive agreement under which IIF will purchase EPE for $68.25 in cash per share representing an enterprise value of approximately $4.3 billion.
However, plaintiff claims that the proposed consideration NYSE: EE shareholders will receive is grossly inadequate and undervalues El Paso Electric Company. In addition, the plaintiff alleges that the process is also unfair NYSE: EE stockholders
On July 25, 2019, NYSE: EE shares closed at $66.10 per share.
Those who are current investors in El Paso Electric Company (NYSE: EE) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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92108 San Diego
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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