GenOn Energy, Inc. (GEN) Is Investigated by Faruqi & Faruqi, LLP for Potential Breaches of Fiduciary Duties
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of GenOn Energy, Inc. (“GenOn” or the “Company”) (NYSE: GEN) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to NRG Energy, Inc. (“NRG”) (NYSE: NRG) in a stock-for-stock deal valued at approximately $1.7 billion. Under the terms of the proposed transaction, GenOn stockholders will receive 0.1216 of NRG share for each share of GenOn common stock they own. The agreement values the proposed consideration at approximately $2.37 a share based on NRG’s Monday’s close, while according to Yahoo! Finance, at least one financial analyst has set a price target of $4.50 for GenOn.
Whether GenOn’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 GenOn’s shares and by how much this proposed transaction undervalues the Company to the detriment of GenOn’s shareholders are the key focus of this investigation.
If you own common stock in GenOn and wish to obtain additional information and protect your investments free of charge, please contact Juan E. Monteverde, Esq. either via e-mail at email@example.com or by telephone at (877) 247-4292 or (212) 983-9330.
Please tell us about yourself by completing the form below and we will provide you with additional
information at no cost to you on how to join the Class Action.
* The submission of this form does not create an attorney-client relationship.
Juan E. Monteverde
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
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