WILMINGTON, Del.--(BUSINESS WIRE)--
Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, is investigating potential breach of fiduciary duty claims against the Board of Directors of Avista Corporation (NYSE: AVA) (“Avista” or the “Company”) relating to the sale of the Company to Hydro One Limited (“Hydro One”). On July 19, 2017, the two parties announced the signing of a definitive merger agreement pursuant to which Hydro One will acquire Avista in a merger worth $6.7 billion. As a result of the merger, Avista’s shareholders are only anticipated to receive $53.00 per share in cash in exchange for each share of Avista.
Andrews & Springer is investigating whether Avista’s directors are breaching their fiduciary duties by failing to adequately shop the company and maximize shareholder value. Our investigation is also looking into whether Avista’s top executives were conflicted and acted in their own self-interest and negotiated their continued employment when approving the merger thus making the process and consideration unfair. According to the Company’s July 19th announcement, Avista’s senior management will continue their employment post-merger: Avista’s “management team and employees will remain in place and it will operate with its own Board of Directors . . . .”
If you own shares of Avista and want to receive additional information and protect your investments free of charge, please visit us at http://www.andrewsspringer.com/cases-investigations/avista-class-action-investigation/ or contact Craig J. Springer, Esq. at [email protected], or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.
Andrews & Springer is a boutique securities class action law firm representing shareholders nationwide who are victims of securities fraud, breaches of fiduciary duty or corporate misconduct. Having formerly defended some of the largest financial institutions in the world, our founding members use their valuable knowledge, experience, and superior skill for the sole purpose of achieving positive results for investors. These traits are the hallmarks of our innovative approach to each case our Firm decides to prosecute. For more information please visit our website at www.andrewsspringer.com. This notice may constitute Attorney Advertising.
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