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SHAREHOLDER NOTICE: Brodsky & Smith, LLC Announces an Investigation of PNM Resources (NYSE - PNM)

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BALA CYNWYD, PA / ACCESSWIRE / October 21, 2020 / Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of PNM Resources ("PNM" or the "Company") (NYSE:PNM) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the agreement to be acquired by AVANGRID (NYSE:AGR),. Under the terms of the agreement, PNM stockholders will receive only $50.30 for each share of PNM common stock they own.

The investigation concerns whether the PNM Board breached its fiduciary duties to shareholders by failing to conduct a fair process and whether AVANGRID is paying too little for the Company. For example, the deal consideration is well below the 52-week high of $56.14 for PNM shares, and at least one wall street analyst has set a target price of $55.00 for PNM shares.

If you own shares of PNM stock and wish to discuss the legal ramifications of the investigation or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC, who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire, or Marc L. Ackerman, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 805, Bala Cynwyd, PA 19004, visit https://www.brodskysmith.com/cases/pnm-resources-nyse-pnm/, or call toll free 877-534-2590.

Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.

SOURCE: Brodsky & Smith, LLC



View source version on accesswire.com:
https://www.accesswire.com/611554/SHAREHOLDER-NOTICE-Brodsky-Smith-LLC-Announces-an-Investigation-of-PNM-Resources-NYSE--PNM