Shareholder rights law firm Johnson & Weaver, LLP has launched an
investigation into whether the board members of DIRECTV (NASDAQ: DTV), a
digital television entertainment services company, breached their
fiduciary duties in connection with the proposed sale of the Company to
AT&T (NYSE: T).
Additional Information:
On May 18, 2014, DIRECTV and AT&T entered into an agreement whereby AT&T
will acquire DIRECTV. Under the terms of the agreement, DIRECTV
shareholders will receive $95.00 per share, comprised of $28.50 per
share in cash and $66.50 per share in AT&T stock.
Nationally recognized Johnson & Weaver, which focuses its practice on
shareholder rights, is investigating whether the proposed deal price
represents adequate consideration, especially given the Company’s recent
success and prospects for future growth. DIRECTV has recently reported
outstanding financial results and future forecasts look even brighter.
Most analysts expect double digit earnings per share growth over the
course of the next two years.
Johnson & Weaver is also investigating whether the Company’s directors
thoroughly considered alternatives to the proposed acquisition, such as
continuing on as an independent company or pursuing a deal with another
company. If you are a shareholder of DIRECTV and believe (1) the
proposed buyout price is too low or (2) you are interested in learning
more about the investigation or your legal rights and remedies,
please contact lead analyst Jim Baker (jimb@johnsonandweaver.com)
at 619-814-4471.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law
firm with offices in California and New York. The firm represents
individual and institutional investors in shareholder derivative and
securities class action lawsuits. For more information about the firm
and its attorneys, please visit http://www.johnsonandweaver.com.
Attorney advertising. Past results do not guarantee future outcomes.
Copyright Business Wire 2014