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UNS Energy Corp (NYSE:UNS) Investor Files Lawsuit Against Acquisition By Fortis, Inc

  • If you purchased shares of UNS Energy Corp (NYSE:UNS) and currently hold any of those NYSE:UNS shares, you have certain options and you should contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Company
UNS Energy Corp
Security
NYSE: UNS

Case Name
UNS Energy Deal Case 12/31/2013
Type of Lawsuit
Mergers and Acquisition
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Summary

January 10, 2014 (Shareholders Foundation) - An investor, who currently hold shares of shares of UNS Energy Corp (NYSE:UNS) filed a lawsuit in effort to halt the proposed takeover of UNS Energy Corp by Fortis, Inc. for $60.25 per share.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE:UNS stockholders arising out of the attempt to sell UNS Energy Corp too cheaply via an unfair process to Fortis, Inc

On December 11, 2013, UNS Energy Corp announced that its Board of Directors of UNS Energy Corporation (NYSE: UNS) has approved a merger agreement with Fortis, Inc. (TSX: FTS) that calls for Fortis to acquire all of the outstanding common stock of UNS Energy for $60.25 per share in cash.
However, the plaintiff alleges that the $60.25-offer is too low and undervalues UNS Energy Corp.

On January 10, 2014, NYSE:UNS shares closed at $59.46 per share.