SAN DIEGO--(BUSINESS WIRE)--Shareholder rights law firm Johnson & Weaver, LLP has launched an investigation into whether the board members of DIRECTV (NASDAQ: DTV), a digital television entertainment services company, breached their fiduciary duties in connection with the proposed sale of the Company to AT&T (NYSE: T).
On May 18, 2014, DIRECTV and AT&T entered into an agreement whereby AT&T will acquire DIRECTV. Under the terms of the agreement, DIRECTV shareholders will receive $95.00 per share, comprised of $28.50 per share in cash and $66.50 per share in AT&T stock.
Nationally recognized Johnson & Weaver, which focuses its practice on shareholder rights, is investigating whether the proposed deal price represents adequate consideration, especially given the Company’s recent success and prospects for future growth. DIRECTV has recently reported outstanding financial results and future forecasts look even brighter. Most analysts expect double digit earnings per share growth over the course of the next two years.
Johnson & Weaver is also investigating whether the Company’s directors thoroughly considered alternatives to the proposed acquisition, such as continuing on as an independent company or pursuing a deal with another company. If you are a shareholder of DIRECTV and believe (1) the proposed buyout price is too low or (2) you are interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (firstname.lastname@example.org) at 619-814-4471.
About Johnson & Weaver, LLP:
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. Attorney advertising. Past results do not guarantee future outcomes.