Shareholder Alert: Ademi & O'Reilly, LLP Investigates whether Connecticut Water Service, Inc. has obtained a Fair Price in its Sale to SJW Group
Shareholder Alert: Ademi & O'Reilly, LLP Investigates whether Connecticut Water Service, Inc. has obtained a Fair Price in its Sale to SJW Group
MILWAUKEE, March 15, 2018 /PRNewswire/ -- Ademi & O'Reilly, LLP is investigating the Board of Directors of Connecticut Water Service, Inc. (Nasdaq: CTWS) for possible breaches of fiduciary duty and other violations of Connecticut law in connection with the sale of Connecticut Water to SJW.
Click here to learn how to join the action: http://ademilaw.com/case/ctws or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
Ademi & O'Reilly, LLP alleges Connecticut Water's long-term financial outlook is improving and yet Connecticut Water shareholders will receive only 1.1375 shares of SJW Group common stock for each share of Connecticut Water common stock they own, the equivalent of $61.86 per share. SJW is well aware of Connecticut Water's improving financial metrics and is purchasing Connecticut Water at a substantial discount. The merger agreement unreasonably limits competing bids for Connecticut Water by (i) prohibiting solicitation of any further bids, and (ii) imposing a termination penalty should Connecticut Water receive and accept a superior bid. Connecticut Water insiders, their affiliates and other major shareholders own significant voting stock, and will receive millions of dollars as part of change of control arrangements, and therefore can unduly influence a sale of Connecticut Water. Our investigation centers on the conduct of Connecticut Water's Board of Directors, who have unanimously approved the transaction, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for Connecticut Water given its current financial condition and prospects.
If you own common stock in Connecticut Water and wish to obtain additional information, please contact Guri Ademi either at gademi@ademilaw.com or toll-free: 866-264-3995, or http://ademilaw.com/case/ctws.
We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights throughout the country. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.
Contacts
Ademi & O'Reilly, LLP
Guri Ademi
Toll Free: (866) 264-3995
Fax: (414) 482-8001
View original content:http://www.prnewswire.com/news-releases/shareholder-alert-ademi--oreilly-llp-investigates-whether-connecticut-water-service-inc-has-obtained-a-fair-price-in-its-sale-to-sjw-group-300614601.html
SOURCE Ademi & O'Reilly, LLP
