Rigrodsky & Long, P.A.:
Rigrodsky & Long, P.A.
- Do you own shares of DIRECTV (NASDAQ GS: DTV )?
- Did you purchase any of your shares prior to May 18, 2014?
- Do you think the proposed buyout price is too low?
- Do you want to discuss your rights?
announces that it is investigating potential legal claims against the board of directors of DIRECTV (“DIRECTV” or the “Company”) (NASDAQ GS:
) regarding possible breaches of fiduciary duties and other violations of law related to the Company’s entry into an agreement to be acquired by AT&T, Inc. (“AT&T”) (NYSE:
), in a transaction valued at approximately $48.5 billion.
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Under the terms of the agreement, public shareholders of DIRECTV would receive $95.00 per share, comprised of $28.50 in cash and 1.905 shares of AT&T common stock for each share of DIRECTV they own. The stock portion will be subject to a collar such that DIRECTV shareholders will receive 1.905 AT&T shares if AT&T stock price is below $34.90 at closing and 1.724 AT&T shares if AT&T stock price is above $38.58 at closing. If AT&T stock price at closing is between $34.90 and $38.58, DIRECTV shareholders will receive a number of shares between 1.724 and 1.905, equal to $66.50 in value.
The investigation concerns whether DIRECTV’s board of directors failed to adequately shop the Company and obtain the best possible value for DIRECTV’s shareholders before entering into an agreement with AT&T. According to Yahoo! Finance, at least one analyst has issued a price target for DIRECTV stock at $100.00 per share.
If you own the common stock of DIRECTV and purchased your shares before May 18, 2014, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth D. Rigrodsky or Gina M. Serra at Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803, by telephone at (888) 969-4242; by e-mail to
, or at:
Rigrodsky & Long, P.A.
, with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes
securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation
, on behalf of shareholders in states and federal courts throughout the United States.
Attorney advertising. Prior results do not guarantee a similar outcome.