Faruqi & Faruqi, LLP Announces Investigation of Sonesta International Hotels Corporation
09 November 2011 - 11:00AM
Business Wire
Faruqi & Faruqi, LLP, a leading national securities firm
headquartered in New York City, is investigating the Board of
Directors of Sonesta International Hotels Corporation (“Sonesta” or
the “Company”) (NASDAQ: SNSTA) for potential breaches of fiduciary
duties in connection with their conduct related to the sale of the
Company to Sonesta Acquisition Corporation, an affiliate of
Hospitality Properties Trust (NYSE: HPT) of Newton, MA, in an
all-cash deal valued at about $174 million, including assumed
indebtedness and other liabilities. Under the terms of the proposed
transaction, Sonesta stockholders will receive $31.00 in cash for
each share of Sonesta common stock they own.
Request more information now by clicking here:
www.faruqilaw.com/SNSTA
Whether Sonesta’s Board of Directors breached their fiduciary
duties to the Company’s stockholders by failing to conduct an
adequate and fair sales process prior to agreeing to this proposed
transaction, whether the proposed transaction undervalues Sonesta’s
shares and by how much this proposed transaction undervalues the
Company to the detriment of Sonesta’s shareholders are the key
focus of this investigation.
Faruqi & Faruqi, LLP is a national law firm which represents
investors and individuals in class action litigation. The firm is
focused on providing exemplary legal services in complex litigation
in the areas of securities, shareholder, antitrust and consumer
litigation, throughout all phases of litigation. The firm has an
experienced trial team which has achieved significant victories on
behalf of the firm’s clients.
If you own common stock in Sonesta and wish to obtain additional
information, please visit us at www.faruqilaw.com/SNSTA or contact
Juan E. Monteverde, Esq. either via e-mail at
jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or
(212) 983-9330.
Attorney Advertising. (C) 2011 Faruqi & Faruqi, LLP. The law
firm responsible for this advertisement is Faruqi & Faruqi, LLP
(www.faruqilaw.com). Prior results do not guarantee or predict a
similar outcome with respect to any future matter. We are happy to
discuss your particular case.
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