SAN DIEGO--(BUSINESS WIRE)--Shareholder Rights Law Firm Johnson & Weaver, LLP is investigating whether members of the board of directors of UNS Energy Corporation (NYSE: UNS) breached their fiduciary duties in connection with the planned sale of the company to Fortis, Inc.
On December 11, 2013, UNS Energy announced that it has entered into an Agreement and Plan of Merger with Canadian-based Fortis. Under the terms of this transaction, which is scheduled to be completed in 2014, UNS Energy shareholders stand to receive $60.25 in cash for each share of stock they own.
The investigation concerns whether UNS Energy’s board failed to satisfy their duties to the company’s shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for UNS Energy’s shares of common stock. The investigation also concerns potential conflicts of interest arising out of the UNS Energy’s management’s interest in post-acquisition employment or investment opportunities.
If you are a shareholder of UNS Energy and would like additional information concerning your legal rights, please contact lead analyst Jim Baker (firstname.lastname@example.org) at 619-230-0063.
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California and New York. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com.