The Law Firm of Levi & Korsinsky, LLP Announces Investigation of Sonesta International Hotels Corporation
09 Novembre 2011 - 1:13AM
Business Wire
Levi & Korsinsky is investigating the Board of Directors of
Sonesta International Hotels Corporation (“Sonesta” or the
“Company”) (NASDAQ: SNSTA) for possible breaches of fiduciary duty
and other violations of state law in connection with the sale of
the Company to Sonesta Acquisition Corporation, an affiliate of
Hospitality Properties Trust. Under the terms of the transaction,
Sonesta shareholders will receive $31.00 for each share of Sonesta
stock they own. The transaction has a total approximate value of
$174 million, including the assumption of debt.
Click here to learn how to join the action:
http://www.zlk.com/sonesta-international-snsta, or call:
877-363-5972.
The investigation concerns whether the Sonesta Board of
Directors breached their fiduciary duties to Sonesta stockholders
by failing to adequately shop the Company before entering into this
transaction and whether Sonesta Acquisition Corporation is
underpaying for Sonesta shares, thus unlawfully harming Sonesta
stockholders. Shareholders owning approximately 55% of Sonesta’s
outstanding shares have agreed to tender their shares.
If you own common stock in Sonesta and wish to obtain additional
information, please contact Joseph E. Levi, Esq. either via email
at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free:
(877) 363-5972, or http://zlk.9nl.com/sonesta-international/.
Levi & Korsinsky is a national firm with offices in New
York, California and Washington D.C. The firm has extensive
expertise in prosecuting investor securities litigation involving
financial fraud and represents investors throughout the nation,
concentrating its practice in securities and shareholder
litigation. The attorneys at Levi & Korsinsky have been
appointed by numerous courts throughout the country to serve as
lead counsel on behalf of shareholders in major litigations
involving mergers and acquisitions. For more information, please
feel free to contact any of the attorneys listed below. Attorney
advertising. Prior results do not guarantee similar outcomes.
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