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First stockholder lawsuit filed over NStar acquisition
By adamg on Wed, 10/20/2010 - 6:40am
Max Glickman of Hopewell Junction, NY yesterday filed a federal class-action lawsuit against NStar's proposed takeover by Northeast Utilities of Connecticut, charging the deal will cheat people like him out of untold amounts of money because Northeast Utilities would pay a lot more for the deal if only NStar executives and trustees weren't traitorous greedheads willing to sell shareholders out for some "personal financial benefits."
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Comments
Out of the woodwork
Kendall is one of at least 5 different law firms I could find which is "investigating possible breach of fiduciary duty" on the part of one or the other of the Board of Directors in this merger. Indeed, it seems that every time there is any merger or acquisition of a publicly traded company the lawyers come scurring out of the woodwork looking for clients. I wouldn't read too much into this at this point.
Good news is NU cannot raise rates for Nstar customers. Bad news, doesn't look like there is going to be much savings for customers in the short term either.
Nstar, Northeast,National
Nstar, Northeast,National Grid, Comcast,RCN,Tmobile, Verizon, AT&T,Apple,Microsoft,BoA,Bank North,JP Morgan Chase,the list is too long to list.....all scum IMO.