Block & Leviton LLP Investigates GenOn Energy, Inc.'s Board of Directors for Possible Breaches of Fiduciary Duty
Published on Monday, 23 July 2012 12:56 Written by TradersHuddle Staff
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.
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.
This notice may constitute attorney advertising.
BLOCK & LEVITON LLP
Mark Alan Delaney, Esq.
SOURCE Block & Leviton LLP
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