GenOn Shareholder Alert: The Briscoe Law Firm And Powers Taylor, LLP Investigate Sale Of GenOn Energy, Inc. To NRG Energy, Inc.
Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP are investigating the sale of GenOn Energy, Inc. (“GenOn” or “GEN”) (NYSE: GEN) to NRG Energy, Inc. for shareholders. Under the proposed transaction, GenOn shareholders will receive 0.1216 of a share of NRG common stock for each share of GenOn stock owned. Based upon NRG’s closing price on July 20th, GenOn shareholders will only receive a value of approximately $2.19 per GenOn share, well below at least one analyst’s estimate of $4.50 per share.
If you are an affected investor, and you want to learn more about the lawsuit or join the action, contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at firstname.lastname@example.org, or Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 706-9314, or via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.
The proposed transaction is an all-stock deal valued at approximately $1.7 billion.
The investigation centers on whether GenOn shareholders are receiving adequate compensation for their shares in the buyout, whether the transaction undervalues GenOn stock, and whether GenOn’s board attempted to obtain the highest share price for all shareholders prior to agreeing to the deal. Notably, according to at least one analyst with Yahoo! Finance, the true inherent value of GenOn could be as high as $4.50 per share. “Due to the lack of a significant premium to the shareholders and other factors, we believe that the transaction may undervalue GEN stock. Our lawsuit will seek to obtain the highest share price for all shareholders,” said shareholder rights attorney Willie Briscoe.The Briscoe Law Firm, PLLC is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters. Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.
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