ITC SHAREHOLDER NOTICE: Faruqi & Faruqi, LLP Announces the Investigation of ITC Holdings Corp. (ITC) Over the Proposed Sale o...
10 February 2016 - 8:31AM
Business Wire
Faruqi & Faruqi, LLP, a leading national securities firm
headquartered in New York City, is investigating the Board of
Directors of ITC Holdings Corp. (“ITC” or the “Company”) (NYSE:ITC)
for potential breaches of fiduciary duties in connection with the
sale of the Company to Fortis Inc. for approximately $11.3
billion.
The Company’s stockholders will only receive $22.57 in cash and
0.7520 shares of Fortis for each share of Company common stock they
own, or approximately $53.69 per share based on the closing price
on February 8, 2016.
Click here for more information:
www.faruqilaw.com/ITC. There is no cost or
obligation to you.
The investigation focuses on whether ITC’s Board of Directors
breached their fiduciary duties to the Company’s stockholders by
failing to conduct a fair sales process and whether and by how much
this proposed transaction undervalues the Company to the detriment
of ITC’s shareholders.
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. To keep track of the latest
securities litigation news, follow us on Twitter at
www.twitter.com/MergerActivity or on Facebook at
www.facebook.com/FaruqiLaw.
If you own common stock in ITC and wish to obtain additional
information and protect your investments free of charge, please
visit us at www.faruqilaw.com/ITC or contact Juan Monteverde, Esq.
either via e-mail at jmonteverde@faruqilaw.com or by telephone at
(877) 247-4292 or (212) 983-9330.
Attorney Advertising. (C) 2016 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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Faruqi & Faruqi, LLP685 Third Avenue, 26th FloorNew York, NY
10017Attn: Juan Monteverde, Esq.jmonteverde@faruqilaw.comToll Free:
(877) 247-4292Phone: (212) 983-9330
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