Rigrodsky & Long, P.A. Investigates Dynegy Inc. Buyout
- Do you own Dynegy Inc. common stock?
- Did you purchase your shares before August 13, 2010?
- Do you feel the buyout by The Blackstone Group, L.P. is unfair?
- Do you want to discuss your rights?
If the answer to these questions is "yes," please contact the deal lawyers at Rigrodsky & Long, P.A. ("R & L") today to schedule a FREE consultation. Just call us, or fill out our contact form so that we can call at your convenience. Your consultation will not create any obligation to use our services at any time.
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R & L is national law firm with decades of combined legal experience. R & L is investigating potential claims the board of directors of Dynegy Inc. concerning possible breaches of fiduciary duty and other violations of law related to the Company’s entry into an agreement to be acquired by The Blackstone Group, L.P. in a transaction with a value of approximately $4.7 billion, including the assumption of existing debt.
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Rigrodsky & Long, P.A. Investigates Dynegy Inc. Buyout
Rigrodsky & Long, P.A. announces that it is investigating potential claims against the board of directors of Dynegy Inc. (“Dynegy” or the “Company”) (NYSE: DYN) concerning possible breaches of fiduciary duty and other violations of law related to the Company’s entry into an agreement to be acquired by The Blackstone Group, L.P. (“Blackstone”) (NYSE: BX) in a transaction with a value of approximately $4.7 billion, including the assumption of existing debt.
Under the proposed agreement, Dynegy shareholders will receive $4.50 in cash for each outstanding share of Dynegy common stock they own. In addition, Blackstone and NRG Energy, Inc. (“NRG”) have entered into a separate and exclusive agreement through which NRG will acquire four natural gas-fired assets currently owned by Dynegy for cash consideration of approximately $1.36 billion. The consummation of the merger transaction between Dynegy and Blackstone is contingent upon the concurrent closing of the Blackstone and NRG transaction.
The investigation concerns whether Dynegy’s board of directors failed to adequately shop the Company and obtain the best price possible for Dynegy’s shareholders before entering into the agreement with Blackstone. Indeed, according to Yahoo! Finance, at least one analyst has set a price target of $7.50 per share for Dynegy stock.
If you own the common stock of Dynegy and purchased your shares before August 13, 2010, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth D. Rigrodsky, Esquire or Noah R. Wortman, Case Development Director, of Rigrodsky & Long, P.A., 919 N. Market Street, Suite 980, Wilmington, Delaware, by telephone at (888) 969-4242, or by e-mail to info@rigrodskylong.com.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.
Attorney advertising. Prior results do not guarantee a similar outcome.
R & L, with offices in Delaware and New York, litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.
Attorney advertising. Prior results do not guarantee a similar outcome.
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