BALA CYNWYD, Pa.--(BUSINESS WIRE)--Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of TECO Energy Inc. ("TECO” or "the Company") (NYSE: TE) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Emera Inc. (“Emera”).
Click here to learn more about the investigation http://brodsky-smith.com/979-te-teco-energy-inc.html, or call: 877-534-2590. There is no cost or obligation to you.
Under the terms of the transaction, TECO shareholders will receive only $27.55 in cash for each share of TECO stock they own. The investigation concerns whether the Board of TECO breached their fiduciary duties to shareholders and whether Emera is underpaying for TECO. The investigation also seeks to determine if conflicts of interest played a role in the transaction. The CEO and two longtime members of the Board will get a substantial payday when the transaction is completed. The Company’s CEO controls stock worth $20.7 million, a former presiding director of the TECO Board controls stock worth $20.2 million, and the TECO Board Chairman controls stock worth $17.3 million when the transaction is completed.
If you own shares of TECO and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 510, Bala Cynwyd, PA 19004, by visiting http://brodsky-smith.com/979-te-teco-energy-inc.html, or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.