NEW YORK, Sept. 9, 2016 /PRNewswire/ -- Nadeem Faruqi, founding partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Spectra Energy Corp. ("Spectra Energy" or the "Company") (NYSE: SE) for potential breaches of fiduciary duties in connection with the sale of the Company to Enbridge Inc. ("Enbridge") for approximately $28 billion.
The Company's stockholders will only receive 0.984 shares of the combined company for each share of Spectra Energy common stock they own. Based on the closing price on September 2, 2016, the transaction values Spectra Energy stock at a price of $40.33 per share.
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The investigation focuses on whether Spectra Energy's Board of Directors breached their fiduciary duties to the Company's stockholders by failing to conduct a fair sales process and whether and by how much this proposed transaction undervalues the Company to the detriment of Spectra Energy's shareholders.
Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients. To keep track of the latest securities litigation news, follow us on Twitter at www.twitter.com/MergerActivity or on Facebook at www.facebook.com/FaruqiLaw.
Faruqi & Faruqi, LLP is working together in this investigation with Juan E. Monteverde from Monteverde & Associates PC.
If you own common stock in Spectra Energy and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/SE or contact Nadeem Faruqi, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330. You may also contact Juan E. Monteverde, Esq. either via email at email@example.com or by telephone at (212) 971-1341.
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