MILWAUKEE, Jan. 7, 2013 (GLOBE NEWSWIRE) -- We are investigating the Board of Directors of EnergySolutions, Inc. ("EnergySolutions" or the "Company") for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Energy Capital Partners II, LLC.
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EnergySolutions shareholders will receive $3.75 for each share in the transaction, well below EnergySolutions' historical trading range of more than $4.00 and below analyst estimates of $5.00. The merger agreement unreasonably limits prospective bids for EnergySolutions by (i) prohibiting solicitation of any further bids, and (ii) imposing a termination penalty of should EnergySolutions receive and accept a superior bid. EnergySolutions insiders and their affiliates own significant voting stock of EnergySolutions, will receive millions of dollars as part of change of control arrangements, and therefore can unduly influence a sale of the Company not necessarily in the best interests of non-insiders. In light of these facts, our investigation centers on the conduct of EnergySolutions' Board of Directors, who have unanimously approved the transaction, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for EnergySolutions.
If you own common stock in EnergySolutions and wish to obtain additional information, please contact Guri Ademi either email@example.com or toll-free: 866-264-3995, or http://ademilaw.com/case/energysolutions-inc.
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