Harwood Feffer LLP Announces Investigation of ITC Holdings Corp.
NEW YORK, Feb. 9, 2016 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of ITC Holdings Corp. ("ITC" or the "Company") (NYSE: ITC) concerning the proposed acquisition of the Company by Fortis Inc. ("Fortis").
Under the terms of the offer, Fortis would acquire ITC in a transaction valued at approximately $6.9 billion. Pursuant to the deal, ITC stockholders would receive $22.57 in cash and 0.752 Fortis share per share of ITC owned.
Our investigation concerns whether the ITC board of directors is fulfilling its fiduciary duties, maximizing the value of the Company, disclosing all material benefits and costs, and obtaining full and fair consideration for Company stockholders.
If you own ITC shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
Benjamin I. Sachs-Michaels, Esq.
Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.
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SOURCE Harwood Feffer LLP