Pomerantz Haudek Grossman & Gross LLP is investigating claims on behalf of investors of Hughes Telematics, Inc. (“Hughes Telematics” or the “Company”) (OTCBB: HUTC) (ISIN: US4444862035) concerning the proposed acquisition of Hughes Telematics by Verizon in a cash transaction valued at approximately $612 million.
The investigation concerns whether the Hughes Telematics directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the agreement, Hughes Telematics shareholders would receive $12.00 in cash per share of Hughes Telematics common stock. However, it is unclear whether the purchase price adequately compensates Hughes Telematics shareholders for the Company’s recent revenue growth.
Hughes Telematics shareholders seeking more information about this acquisition are advised to contact Rebecca Jarmon at
or 212-661-1100 or 888-476-6529, ext. 314.
The Pomerantz Firm, with offices in New York and Chicago, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 75 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of defrauded investors. See