Straight Path Communications Inc (NYSEMKT:STRP) Investor Investigation Over Potential Wrongdoing In Acquisition Announced

If you purchased shares of Straight Path Communications Inc (NYSEMKT:STRP) and currently hold any of those NYSEMKT:STRP shares, you have certain options and you should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this investigation, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Straight Path Communications
Affected Securities: 
NYSEMKT: STRP

April 18, 2017 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of Straight Path Communications Inc (NYSEMKT:STRP), was announced concerning whether the takeover of Straight Path Communications Inc by AT&T for $95.63 per share is unfair to NYSEMKT:STRP stockholders.

The investigation by a law firm concerns whether certain officers and directors of Straight Path Communications Inc breached their fiduciary duties owed to NYSEMKT:STRP investors in connection with the proposed acquisition.

On April 10, 2017 Straight Path Communications Inc. (NYSE MKT: STRP) and AT&T (NYSE: T) announced the signing of a definitive merger agreement under which AT&T is to acquire Straight Path for $95.63 per share in an all-stock merger intended to qualify as a tax-free reorganization.

However, given that Verizon is rumored to offer a higher price for Straight Path Communications Inc (NYSEMKT:STRP) that sent NYSE:STRP shares in the open market to as high as $108.50 per share on April 18, 2017, the investigation concerns whether the offer is unfair to NYSEMKT:STRP stockholders. More specifically, the investigation concerns whether the Straight Path Communications 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.