NEW YORK, Nov. 3, 2011 /PRNewswire/ -- Levi & Korsinsky is investigating the Board of Directors of Sonesta International Hotels Corporation ("Sonesta" or the "Company") (NASDAQ: SNSTA) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Sonesta Acquisition Corporation, an affiliate of Hospitality Properties Trust. Under the terms of the transaction, Sonesta shareholders will receive $31.00 for each share of Sonesta stock they own. The transaction has a total approximate value of $174 million, including the assumption of debt.
Click here to learn how to join the action: http://www.zlk.com/sonesta-international-snsta, or call: 877-363-5972.
The investigation concerns whether the Sonesta Board of Directors breached their fiduciary duties to Sonesta stockholders by failing to adequately shop the Company before entering into this transaction and whether Sonesta Acquisition Corporation is underpaying for Sonesta shares, thus unlawfully harming Sonesta stockholders. Shareholders owning approximately 55% of Sonesta's outstanding shares have agreed to tender their shares.
If you own common stock in Sonesta and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or http://zlk.9nl.com/sonesta-international/.
Levi & Korsinsky is a national firm with offices in New York, California and Washington D.C. The firm has extensive expertise in prosecuting investor securities litigation involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major litigations involving mergers and acquisitions. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph Levi, Esq. Eduard Korsinsky, Esq. 30 Broad Street - 15th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.com
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