The Shareholders Foundation announces that an investor, who currently holds shares of Pepco Holdings, Inc. (NYSE:POM) filed a lawsuit in effort to halt the proposed takeover of Pepco Holdings, Inc. by Exelon Corporation.
Investors who purchased shares of Pepco Holdings, Inc. (NYSE:POM) and currently hold any of those NYSE:POM shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 – 1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE:POM stockholders by agreeing to sell Pepco Holdings, Inc. too cheaply via an unfair process to Exelon Corporation.
On April 30, 2014, Exelon Corporation and Pepco Holdings Inc. (NYSE: POM) announced that they have signed an agreement to combine the two companies in an all-cash transaction. Under the terms of the proposed transaction shareholders of Pepco Holdings, Inc. will receive $27.25 per NYSE:POM share.
However, the plaintiff claims that the offer is unfair to NYSE:POM stockholders and undervalues Pepco Holdings Inc. Indeed, Pepco Holdings, Inc. reported that its annual Total Revenue rose from over $4.63 billion in 2012 to over $4.67 billion in 2013.Shares of Pepco Holdings, Inc. (NYSE:POM) grew from $10.36 per share in March 2009 to as high as $22.51 per share in May 2013.
On August 26, 2014, NYSE:POM shares closed at $27.16 per share.
Those who are current investors in Pepco Holdings, Inc. (NYSE:POM) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North – Suite 423
92108 San Diego