Faruqi & Faruqi, LLP Launches An Investigation Against Pike Electric Corporation (PIKE) For Potential Breaches Of Fiduciary Duties By Its Board Of Directors
Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Pike Electric Corporation (“Pike” or the “Company”) (NYSE: PIKE) for potential breaches of fiduciary duties in connection with their conduct in seeking shareholders’ approval for a Plan of Merger between the Company and its subsidiary Pike Corporation, as well as a reincorporation of the Company to North Carolina.
Specifically, in the Proxy Statement filed by the Company with the Securities and Exchange Commission on September 17, 2013, the Board of Directors recommends that Pike’s shareholders vote to approve an amendment to consider and vote on a proposal to adopt an Agreement and Plan of Merger, dated as of September 16, 2013, between the Company and Pike Corporation, a North Carolina corporation and a wholly-owned subsidiary of the Company, by which the Company would effect the reincorporation of the Company from Delaware to North Carolina.
If you own common stock in Pike and wish to obtain additional information and protect your investments free of charge, please contact Juan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330.