An investigation on behalf of investors of US Geothermal Inc (NYSEAMERICAN:HTM) in connection with the proposed takeover was announced and NYSEAMERICAN:HTM stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 01/30/2018 -- The takeover of US Geothermal Inc is under investigation over possible wrongdoing. The investigation was announced for investors, who currently hold shares of US Geothermal Inc, concerning whether the takeover of US Geothermal Inc by Ormat Technologies, Inc. is unfair.
Investors who purchased shares of US Geothermal Inc (NYSEAMERICAN:HTM) and currently hold any of those NYSEAMERICAN:HTM shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain directors of US Geothermal Inc breached their fiduciary duties owed to NYSEAMERICAN:HTM investors in connection with the proposed acquisition.
On Janaury 24, 2018, U.S. Geothermal Inc. (NYSE American:HTM) announced that it has entered into a merger agreement under which a wholly owned subsidiary of Ormat Technologies, Inc. (NYSE:ORA) will acquire the Company for $5.45 per share in an all cash transaction.
However, given that certain funds advised by JCP Investment Management, LLC, which own approximately 15.0% of the outstanding shares of US Geothermal, as well as the directors and officers of US Geothermal have already entered into an agreement to vote in favor of the transaction, the investigation concerns whether the offer is unfair to NYSEAMERICAN:HTM stockholders. More specifically, the investigation concerns whether the US Geothermal 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.
On January 29, 2018, US Geothermal Inc (NYSEAMERICAN:HTM) shares closed at $5.39 per share.
Those who are current investors in US Geothermal Inc (NYSEAMERICAN:HTM) shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com