The Law Firm of Weiss & Lurie Investigates Sonesta International Hotels Corporation
12 November 2011 - 9:57AM
Business Wire
Weiss & Lurie, a national class action and shareholder
rights law firm with offices in New York City and Los Angeles, is
investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of Sonesta
International Hotels Corporation (“Sonesta”) (NASDAQ GLOBAL: SNSTA)
arising from its agreement for the Company to be acquired by
Sonesta Acquisition Corporation (“SAC”), an affiliate of
Hospitality Properties Trust, for $31.00 per share.
Weiss & Lurie is investigating whether Sonesta’s Board acted
in the best interests of its shareholders in approving the
transaction and whether the Board adequately shopped the Company to
obtain full consideration for Sonesta shareholders. In approving
this deal, Sonesta’s Board may have breached its duties to
shareholders by failing to maximize the value of their shares, such
as by providing a level playing field to competing bidders or to
consider alternative transactions, and by failing to make full and
fair disclosure to shareholders about Sonesta’s business valuation
and the conflict of interests, if any, of the Board members and its
financial adviser on the deal.
If you own Sonesta shares and would like more information about
your rights as a shareholder or additional information concerning
our investigation, please contact Michael A. Rogovin either by
email at info@weisslurie.com or by telephone at (888) 593-4771.
Weiss & Lurie 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
institutions and individuals and obtained important corporate
governance in these cases. If you have information or would like
legal advice concerning possible corporate wrongdoing, consumer
fraud, or anti-trust violations, please email us at
info@weisslurie.com or fill out the form on our website,
http://www.weisslurie.com/contact/report_fraud/.
Attorney Advertising. Past results do not guarantee a similar
outcome.
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