STEVENSON, Md.--(BUSINESS WIRE)--The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of Integrys Energy Group, Inc. (“Integrys” or the “Company”) (NYSE: TEG) and other violations of state law by the board of directors of Integrys relating to the proposed buyout of the Company by Wisconsin Energy Corp. (“Wisconsin Energy”).
On June 23, 2014, Integrys and Wisconsin Energy announced the signing of a definitive merger agreement pursuant to which Wisconsin Energy will acquire Integrys in a merger valued at approximately $9.1 billion. Under the terms of the transaction, Integrys shareholders will receive a total consideration of $71.47 made up of 74% stock and 26% cash per Integrys share owned. The firm’s investigation seeks to determine, among other things, whether the Company’s board of directors breached their fiduciary duties by failing to maximize shareholder value before agreeing to enter into this transaction, and whether Wisconsin Energy is underpaying for Integrys shares.
If you currently own common stock of Integrys and would like to learn more about the investigation being conducted by Brower Piven, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentinvestigations.html. You may also request more information by contacting Brower Piven either by email at firstname.lastname@example.org or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s.