Faruqi & Faruqi, LLP Is Seeking to Increase the Consideration for HUGHES Telematics, Inc. Merger
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of HUGHES Telematics, Inc. (“HTI” or the “Company”) (OTC BB: HUTC) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Verizon Communications Inc. (NYSE: VZ) in an all-cash deal valued at about $612 million. Under the terms of the proposed transaction, HTI’s stockholders will receive $12.00 in cash for each share of HTI’s common stock they own.
Whether HTI’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether the proposed transaction undervalues HTI’s shares and by how much this proposed transaction undervalues the Company to the detriment of HTI’s shareholders are the key focus of this investigation.
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Faruqi & Faruqi, LLP
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New York, NY 10017
Tel: (212) 983-9330
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