INVESTOR ALERT: Brower Piven Commences an Investigation into the Proposed Sale of ITC Holdings Corp. & Encourages Investors t...
February 12 2016 - 4:38PM
Business Wire
The securities litigation law firm of Brower Piven, A
Professional Corporation, announces that it is investigating
potential legal claims against the board of directors of ITC
Holdings Corp. (“ITC” or the “Company”) (NYSE: ITC) regarding
possible breaches of fiduciary duties and other violations of law
related to the Company’s entry into an agreement to be acquired by
Fortis Inc., in a transaction valued at approximately $11.3
billion.
Under the terms of the agreement, shareholders of ITC will
receive 0.7520 shares of Fortis stock and $22.57 in cash for each
share of ITC common stock they own. The firm’s investigation seeks
to determine, among other things, whether the Company’s Board of
Directors failed to satisfy their duties to shareholders, including
whether the Board adequately pursued alternatives to the
acquisition and whether the Board obtained the best price possible
for the Company’s shares of common stock.
If you currently own common stock of ITC and believe that the
proposed buyout price is too low, or you would like to learn more
about the investigation being conducted by Brower Piven, 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 hoffman@browerpiven.com 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.
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version on businesswire.com: http://www.businesswire.com/news/home/20160212005860/en/
Brower Piven, A Professional CorporationCharles J. Piven,
410-415-66161925 Old Valley RoadStevenson, Maryland
21153hoffman@browerpiven.com
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