The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of DIRECTV (“DIRECTV” or the “Company”) (NasdaqGS: DTV) and other violations of state law by the board of directors of DIRECTV relating to the proposed buyout of the Company by AT&T, Inc. (“AT&T”).
Under the terms of the transaction, DIRECTV shareholders will receive $28.50 in cash and 1.905 shares of AT&T common stock for each share of DIRECTV stock they own, representing a value of approximately $95.00 per share. According to Yahoo! Finance, at least one analyst following DIRECTV has set a target price of $100 per share.
The firm’s investigation seeks to determine, among other things, whether the Company’s board of directors breached their fiduciary duties by failing to maximize shareholder value before agreeing to enter into this transaction, and whether AT&T is underpaying for DIRECTV shares.
If you currently own common stock of DIRECTV and would like to learn more about the investigation being conducted by Brower Piven, without cost or obligation to you, click here:
You may also request more information by contacting Brower Piven either by email at
or by telephone at (410) 415-6616. Attorneys at Brower Piven together have more than a century of experience litigating securities and other class action cases.