Law Office of Brodsky & Smith, LLC Announces Investigation of Sonesta International Hotels Corporation
November 04 2011 - 10:59PM
Business Wire
Law office of Brodsky & Smith, LLC announces that it is
investigating potential claims against the Board of Directors of
Sonesta International Hotels Corporation (“Sonesta” or the
“Company”) (Nasdaq: SNSTA) relating to the proposed acquisition by
Hospitality Properties Trust (“HPT”).
Under the terms of the transaction Sonesta shareholders would
receive $31.00 in cash for each share of Sonesta stock they own.
The investigation concerns possible breaches of fiduciary duty and
other violations of state law by the Board of Directors of Sonesta
for not acting in the Sonesta shareholders' best interests in
connection with the sale process to HPT. The transaction may
undervalue Sonesta as a result of failing to adequately shop the
Company. Litigation may be the only way to increase shareholder
compensation as shareholders owning approximately 55% of Sonesta’s
outstanding shares have already agreed to tender their shares.
If you own shares of Sonesta stock and wish to discuss the legal
ramifications of the proposed transaction, 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 Evan J.
Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite
602, Bala Cynwyd, PA 19004, by e-mail at
investorrelations@brodsky-smith.com, visiting
http://brodsky-smith.com/353-snsta-sonesta-international-hotels-corporation.html,
or by calling toll free 877-LEGAL-90.
Sonesta (NASDAQ:SNSTA)
Historical Stock Chart
From May 2024 to Jun 2024
Sonesta (NASDAQ:SNSTA)
Historical Stock Chart
From Jun 2023 to Jun 2024
Real-Time news about Sonesta International Hotels Corp. (MM) (NASDAQ): 0 recent articles
More Brodsky & Smith, LLC News Articles