Brodsky & Smith, LLC Announces Investigation of The Board of Directors of TECO Energy Inc.
September 18 2015 - 09:05PM
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20150918005852/en/
Brodsky & Smith, LLCJason L. Brodsky, EsquireEvan J. Smith,
Esquire877-LEGAL-90http://brodsky-smith.com/979-te-teco-energy-inc.html
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