PowerSecure International, Inc. (NYSE:POWR) Investor Investigation Over Possible Breaches Of Fiduciary Duties In Proposed Acquisition Announced

If you purchased shares of PowerSecure International, Inc. (NYSE:POWR) and currently hold any of those NYSE:POWR shares, you have certain options and you should contact the Shareholders Foundation, Inc.

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February 26, 2016 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of PowerSecure International, Inc. (NYSE:POWR), was announced concerning whether the takeover of PowerSecure International, Inc. by Southern Company for $18.75 per share is unfair to NYSE:POWR stockholders.

The investigation by a law firm concerns whether certain officers and directors of PowerSecure International, Inc. breached their fiduciary duties owed to NYSE:POWR investors in connection with the proposed acquisition.

On February 24, 2016, Southern Company (NYSE: SO) and PowerSecure International, Inc. (NYSE:POWR) announced that the boards of directors of both companies have approved a merger agreement through which Southern Company will acquire PowerSecure, with PowerSecure becoming a wholly owned subsidiary ofSouthern Company. Under the terms of the agreement, PowerSecure's stockholders will be entitled to receive $18.75 in cash for each share of PowerSecure common stock in a transaction with a purchase price of approximately $431 million.

However, given that at least one analyst has set the high target price for NYSE:POWR shares at $21.00 per share, the investigation concerns whether the offer is unfair to NYSE:POWR stockholders. More specifically, the investigation concerns whether the PowerSecure International Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.

Shares of PowerSecure International, Inc. (NYSE:POWR) reached as high as $24.56 per share in March 2014.