NEW YORK--(BUSINESS WIRE)--Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Empire District Electric Company (“Empire” or the “Company”) (NYSE:EDE) for potential breaches of fiduciary duties in connection with the sale of the Company to Algonquin Power & Utilities Corp. for approximately $2.4 billion.
The Company’s stockholders will only receive $34.00 in cash for each share of Company common stock they own. However, this consideration offers virtually no premium over the 52-week high.
Click here for more information: www.faruqilaw.com/EDE. There is no cost or obligation to you.
The investigation focuses on whether Empire’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct a fair sales process and whether and by how much this proposed transaction undervalues the Company to the detriment of Empire’s shareholders.
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If you own common stock in Empire and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/EDE or contact Juan E. Monteverde, Esq. either via e-mail at jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or (212) 983-9330.
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