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NEW YORK, Nov. 2, 2020 /PRNewswire/ --
WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of PNM Resources, Inc. ("PNM" or the "Company") (NYSE: PNM) in connection with the proposed acquisition of the Company by Avangrid, Inc. ("Avangrid"). Under the terms of the acquisition agreement, PNM shareholders will receive $50.30 in cash for each share of PNM common stock that they own.
If you own PNM shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
Or please contact:
Joshua Rubin, Esq.
1500 Broadway, 16th Floor
New York, NY 10036
WeissLaw is investigating whether PNM's board acted in the best interest of PNM's public shareholders in agreeing to the proposed transaction, whether the $50.30 merger consideration represents adequate value for PNM shares, and whether all information regarding the sales process undertaken by the board and financial analyses supporting the transaction will be fully and fairly disclosed to PNM shareholders. Notably, the Company's 52-week high trading price was $56.14, nearly $6 above the per-share consideration.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at email@example.com
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SOURCE WeissLaw LLP