San Diego, CA -- (ReleaseWire) -- 01/13/2014 -- An investor, who currently hold shares of shares of UNS Energy Corp (NYSE:UNS) filed a lawsuit in effort to halt the proposed takeover of UNS Energy Corp by Fortis, Inc. for $60.25 per share.
Investors who purchased shares of UNS Energy Corp (NYSE:UNS) and currently hold any of those NYSE:UNS shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE:UNS stockholders arising out of the attempt to sell UNS Energy Corp too cheaply via an unfair process to Fortis, Inc
On December 11, 2013, UNS Energy Corp announced that its Board of Directors of UNS Energy Corporation (NYSE: UNS) has approved a merger agreement with Fortis, Inc. (TSX: FTS) that calls for Fortis to acquire all of the outstanding common stock of UNS Energy for $60.25 per share in cash.
However, the plaintiff alleges that the $60.25-offer is too low and undervalues UNS Energy Corp.
On January 10, 2014, NYSE:UNS shares closed at $59.46 per share.
Those who are current investors in UNS Energy Corp shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego