NEW YORK, Feb. 3, 2016 /PRNewswire/ -- Milberg LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Questar Corporation ("Questar ") (NYSE: STR) in connection with the proposed acquisition of Questar by Dominion Resources, Inc. ("Dominion") (NYSE: D).
On February 1, 2016, Questar announced that it had entered into an agreement and plan of merger to be acquired by Dominion in an all-cash transaction. Under the terms of the proposed transaction, Questar's stockholders will receive only $25.00 in cash for each share of Questar stock owned. However, Questar common stock has traded at above the proposed offer price as recently as February 3, 2015, when it reached $26.06 per share, and has been given a per share price target by analysts of $26.00 per share.
Milberg LLP's investigation focuses on the potential unfairness of the consideration being provided to Questar's stockholders and the process by which Questar's Board of Directors considered and approved the proposed deal.
Concerned investors are invited to contact the Milberg attorneys listed below to discuss the investigation, their rights, or potential remedies.
Founded in 1965, Milberg LLP was one of the first law firms to prosecute class actions in federal courts on behalf of investors and consumers and has been representing investors and consumers for more than four decades. Milberg LLP is widely recognized as a leader in defending the rights of victims of corporate and other large-scale wrongdoing, serving as lead counsel in federal and state courts throughout the United States. For more information, please visit the firm website at www.milberg.com.
SOURCE Milberg LLP