EQUITY ALERT: The Rosen Law Firm Announces Investigation of Hawaiian Electric Industries Concerning its Proposed Sale to Next...
December 04 2014 - 12:23PM
Business Wire
The Rosen Law Firm announces that it is investigating the Board
of Directors of Hawaiian Electric Industries, Inc. (NYSE:HE) for
possible breaches of fiduciary duty and other violations of law by
failing to adequately shop Hawaiian Electric Industries to maximize
shareholder value before agreeing to be acquired by NextEra Energy,
Inc. (NYSE:NEE).
If you would like to join the action, go to
http://rosenlegal.com/cases-454.html or contact Phillip Kim or
Kevin Chan, toll-free at 866-767-3653, or via e-mail at
pkim@rosenlegal.com or kchan@rosenlegal.com. There is no cost or
obligation to you.
Under the terms of the proposed transaction, shareholders will
receive 0.2413 NextEra Energy shares and a one-time special cash
dividend payment of 50 cents for each share of Hawaiian Electric
Industries they own. In addition, Hawaiian Electric Industries will
spin off ASB Hawaii into a separate publicly traded company. This
equates to approximately $33.50 per Hawaiian Electric Industries
share. The proposed transaction is valued at approximately $4.3
billion. The investigation relates to whether the proposal is fair
to the public shareholders of Hawaiian Electric Industries and
whether Hawaiian Electric Industries’ Board breached its fiduciary
duties in connection with the proposed sale.
If you currently own shares of Hawaiian Electric Industries and
wish to obtain additional information, please visit the website at
http://rosenlegal.com/cases-454.html. You may also contact Phillip
Kim or Kevin Chan of The Rosen Law Firm toll free at 866-767-3653
or via e-mail at pkim@rosenlegal.com or kchan@rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe,
concentrating its practice in securities class actions and
shareholder derivative litigation.
Attorney Advertising. Prior results do not guarantee a similar
outcome.
The Rosen Law Firm, P.A.Phillip Kim, Esq.Kevin Chan,
Esq.Laurence Rosen, Esq.275 Madison Avenue, 34th FloorNew York, NY
10016Tel: 212-686-1060Toll Free: 1-866-767-3653Fax:
212-202-3827pkim@rosenlegal.comkchan@rosenlegal.comlrosen@rosenlegal.comwww.rosenlegal.com
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