SAN DIEGO, April 23, 2018 /PRNewswire/ -- Shareholder rights law firm Johnson & Fistel, LLP has launched an investigation into whether the board members of Vectren Corporation (NYSE: VVC) ("Vectren") breached their fiduciary duties in connection with the proposed sale of the Company to CenterPoint Energy ("CenterPoint"). Vectren provides energy delivery services to residential, commercial, and industrial and other contract customers.
On April 23, 2018, Vectren announced it had signed a definitive merger agreement with CenterPoint. Under the terms of the definitive merger agreement, Vectren shareholders will receive $72 in cash for each share held.
The investigation concerns whether Vectren's board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for the Company's shares of common stock.
Nationally recognized Johnson Fistel is investigating whether the proposed deal represents adequate consideration, especially given that one Wall Street analyst has a $75 price target on the stock.
If you are a shareholder of Vectren and believe the proposed buyout price is too low or you're interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker ([email protected]) at 619-814-4471. If emailing, please include a phone number.
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Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
SOURCE Johnson Fistel, LLP