UIL HOLDINGS CORP. INVESTOR ALERT: Faruqi & Faruqi, LLP Announces the Investigation of UIL Holdings Corp. (UIL) Over the Proposed Sale of the Company to Iberdrola, S.A.
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 UIL Holdings Corp. (“UIL” or the “Company”) (NYSE: UIL) for potential breaches of fiduciary duties in connection with the sale of the Company to Iberdrola, S.A. for approximately $3 billion in a cash and stock transaction. The Company’s stockholders will receive one share of the new company as well as an additional $10.50 per share for each share of UIL common stock they own for a total value of $52.75 per share.
The investigation focuses on whether UIL’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 UIL’s shareholders.
If you own common stock in UIL 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.
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Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
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