PRLog (Press Release)– Jun 22, 2011– Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Central Vermont Public Service Corp. ("Central Vermont" or the " cadillac Company") (NYSE: CV) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Fortis Inc. in a deal valued at about $654.73 million. The proposed transaction offers Central Vermont's shareholders $35.10 in cash for each share they own.
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Whether Central Vermont's Board of Directors breached their fiduciary duties to the Company's stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether the proposed transaction undervalues Central Vermont's shares and by how much this proposed transaction undervalues the Company to the detriment of Central Vermont's shareholders are the key focus of this investigation.
Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer l audi itigation, through all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients.
If you own common stock in Central Vermont and wish to obtain additional information, please visit us at w ferrari ww.faruqilaw.com/CV or contact Juan E. Monteverde, Esq. either via e-mail at jmonteverde@faruqilaw.com or acura by telephone at (877) 247-4292 or (212) 983-9330.
Contact:
Faruqi & Faruqi, LLP 369 Lexington Avenue, 10th Floor New York, NY 10017 Attn: Juan E. Monteverde, Esq. jmonteverde@faruqilaw.com Toll Free: (877) 247-4292 Phone: (212) 983-9330
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SOURCE: Faruqi & Faruqi, LLP
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