BOSTON, July 23, 2012 /PRNewswire/ -- Block & Leviton LLP (www.blockesq.com), a Boston-based law firm representing investors nationwide, has commenced an investigation into possible breaches of fiduciary duties by the Board of Directors of GenOn Energy, Inc. ("GenOn" or the "Company") (NYSE: GEN) with regards to the proposed acquisition of the Company by NRG Energy, Inc. ("NRG") in a stock-for-stock tax free transaction.
Under the terms of the agreement, GenOn shareholders will receive 0.1216 shares of NRG common stock in exchange for each GenOn share of common stock. Based on NRG's closing share price on July 20, 2012, this equates to approximately $2.19 in NRG equity for each GenOn share. GenOn's shares have traded at an average price of $2.43 over the preceding 52-week period, and at least one analyst recently set a target price of $4.50 per share for the Company's stock.
If you have information relevant to this investigation, or if you are a GenOn shareholder and have questions about your legal rights, please contact Mark Delaney at (617) 398-5650 or email him at firstname.lastname@example.org.
Block & Leviton is a Boston-based law firm representing investors for violations of securities laws. The firm's lawyers have collectively been prosecuting securities cases on behalf of investors for over 50 years.
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SOURCE Block & Leviton LLP